Yes.
Faith and credit of state pledged debt may be validated. The full faith, credit, and taxing power of the state are hereby pledged to the payment of all public debt incurred under this article and all such debt and the interest on the debt shall be exempt from taxation.
No, interest earnings from municipal bonds are not tax exempt at the federal or state level.
Newspapers are exempt from sales tax in Georgia if they are sold by subscription or at a fixed rate. However, sales of newspapers at retail locations can be subject to sales tax in Georgia.
The interest that you receive on treasury bills and bonds is tax exempt income for state and local taxes.In some states interest earned on specified state and municipal obligations is exempt from both state and federal income tax:
If the municipal bond is issued by the jurisdiction in which the bondholder resides, the interest is tax-exempt from both the federal government and the state government. If there is a local income tax, the interest is tax-exempt at this level, too.
Interest on US Treasuries is taxed as ordinary income. It is also exempt from state and city, if applicable, income taxes.
They are all debt financing instruments of the U.S. government, backed by the full faith and credit of the U.S. government. In addition, interest earned on all treasury securities is exempt from taxation by state and local taxing authorities.
Nearly all bonds are taxable both federal and state. To be exact, the interest the bonds pay is taxable (as well as any capital gain resulting from trading bonds). The reason is that the tax code taxes interest. Bonds are a way of borrowing money and paying interest to the lender. Bonds issued by the federal government are exempt from state taxes. Bonds issued by states and municipalities are mostly exempt from federal taxes (and exempt from taxes in the state that issued them in some states).
There are several options that offer tax-exemptions on the federal level but not always on the state or local level. One example of an option that allows interest to be tax-exempt are municipal bonds. Tax laws vary by state so the tax-exemption may be void for a resident purchasing a bond in another state.
Exempt means, the security is exempt from registration with the state because of a myriad of reasons. If the issuer is exempt that means he is exempt from registration with the state.
NJ Division of Taxation bulletin S&U4 says (on page 9) that firewood is exempt from sales tax.
Revenue bonds are a form of borrowing by state and local governments. A bond is a certificate saying you have loaned someone some money and they promise to pay you back with interest. A revenue bond is an obligation that is backed up by some particular source of income. For example, a state may promise to repay a bond by paying all of the money they receive from the sales tax until the bond is repaid. The interest on most bonds issued by state and local governments is not subject to federal income tax. In some states, it is not subject to that state's income tax either. Bonds whose interest is not subject to income tax are described as "tax exempt," although you might want to be more specific about whether they are federally exempt, state exempt, or both.
it depends- is the purchasing company based in georgia? is the company tax exempt? is the item being sold to the "end user"? is the item going to be attached to real property?