A taxpayer can exclude from income interest received from:

Name: A taxpayer can exclude from income interest received from:
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Municipal bonds issued by the state are tax-exempt from federal income tax, and in some cases, state income tax as well. The interest income received from these bonds is not included in the taxpayer's gross income. The other options may be eligible for certain deductions or exemptions, but the interest income is not automatically excluded.

A Taxpayer Can Exclude from Income Interest Received From