DC (AGAIN!) DELAYS MUNI BOND INCOME TAX
Brian Wynne, CPA
DC has again passed legislation that further delays the taxation of non-DC municipal bond income. The new legislation ensures that income from all municipal bonds will not be taxable for DC residents in 2012. Starting in 2013, DC will subject municipal bonds from states other than DC acquired after January 1, 2013 to taxation. DC will continue to exclude Metropolitan Washington Regional Airport Authority bonds and under federal law Virgin Islands, Guam, Puerto Rico and American Samoa bond income. See the DC fact sheet for further information:
http://newsroom.dc.gov/show.aspx/agency/otr/section/2/release/23497
