In the case of interest income from state and Federal bonds:
A) Interest on United States government bonds received by a state resident cannot be subject to that state's income tax.
B) Interest on United States government bonds is subject to Federal income tax.
C) Interest on bonds issued by State A received by a resident of State B can be subject to income tax in State B.
D) All of the above are correct.
E) None of the above are correct.
Correct Answer:
Verified
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