exempt interest
Defined in 1 place of the United States Code.
The term “exempt interest” means, with respect to any regulated investment company, the excess of the amount of interest excludable from gross income under section 103(a) over the amounts disallowed as deductions under sections 265 and 171(a)(2).
Source
- 2010–present26 U.S.C. § 852Internal Revenue Code · Taxation of regulated investment companies and their shareholders · for purposes of this title