Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 31 - Money and Finance: Treasury |
Subtitle B - Regulations Relating to Money and Finance |
Chapter II - Fiscal Service, Department of the Treasury |
SubChapter A - Bureau of the Fiscal Service |
Part 345 - Regulations Governing 5 Percent Treasury Certificates of Indebtedness - R.E.a. Series |
§ 345.5 - Taxation.
Latest version.
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§ 345.5 Taxation.
The income derived from the certificates is subject to all taxes imposed under the Internal Revenue Code of 1954. The certificates are subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State or any of the possessions of the United States, or by any local taxing authority.
[40 FR 29846, July 16, 1975]