The mutual ..... doctrine rules that interest on municipal bonds is free of federal tax, and in return for this, localities and states cannot tax the interest on federal government securities.

The mutual ..... doctrine rules that interest on municipal bonds is free of federal tax, and in return for this, localities and states cannot tax the interest on federal government securities. (*) exception (*) exchange (*) exclusion (*) exemption


This is a companion discussion topic for the original entry at https://english.best/questions/12611,the-mutual-___-doctrine-rules-that-interest-on-municipal-bonds-is-free-of-federal-tax-and-in-return-for-this-localities-and-states-cannot-tax-the-interest-on-federal-government-securities/