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Which of the following is true about the taxation of income from treasury bills? A. They are subject to both federal and state income taxes.
Which of the following is true about the taxation of income from treasury bills?
A. They are subject to both federal and state income taxes.
B. They are subject to federal tax at the taxpayers marginal ordinary income tax rate, but not state tax.
C. They are subject to state tax at the taxpayers marginal ordinary income tax rate, but not federal tax.
D. They are tax free.
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