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Municipal bonds are often called tax-exempts. This refers to the exemption of their income from A. state, federal, and inheritance taxes B. State income taxes

Municipal bonds are often called tax-exempts. This refers to the exemption of their income from

A. state, federal, and inheritance taxes

B. State income taxes

C. federal income taxes

D. Federal and state income tax (if issued in the state of residence of the taxpayer)

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