triple tax exempt business definition
Of, relating to, or being a municipal bond, trust, or fund paying interest that is free of federal, state, and local income taxation for individuals residing in certain localities. This situation results from the fact that most, but not all, states and localities exempt municipal bond interest from taxation if the bonds are issued within that particular state. Triple tax exemption is of particular interest to investors residing in high-tax states and localities, such as New York City.
Learn more about triple tax exempt