tax-exempt obligation
Defined in 3 places of the United States Code.
The term “tax-exempt obligation” has the meaning given to such term by section 1275(a)(3).
Source
- 1994–present26 U.S.C. § 1288Internal Revenue Code · Treatment of original issue discount on tax-exempt obligations · for purposes of this section
The term “tax-exempt obligation” means any obligation if—
(A) the interest on such obligation is not includible in gross income under section 103, or
(B) the interest on such obligation is exempt from tax (without regard to the identity of the holder) under any other provision of law.
Source
- 1994–present26 U.S.C. § 1275Internal Revenue Code · Other definitions and special rules · for purposes of this subpart
The term “tax-exempt obligation” means any obligation the interest on which is wholly exempt from taxes imposed by this subtitle. Such term includes shares of stock of a regulated investment company which during the taxable year of the holder thereof distributes exempt-interest dividends.
Source
- 1994–present26 U.S.C. § 265Internal Revenue Code · Expenses and interest relating to tax-exempt income · in this section