What is the tax status of the Farm Credit Debt Securities? Under the Farm Credit Act, Farm Credit Debt Securities and the interest thereon are exempt from state, local and municipal income taxes
B. Deduct interest received from Federal securities (for example U.S. Savings Bonds, U.S. Treasury Notes).
Do not subtract interest from repurchase agreements of U.S. Government securities.
The following are exempt:United States Government obligations: United States Treasury - Principal and interest from bills, bonds, and notes issued by the United States Treasury exempt under 31 USCS section 3124[a].Series E, F, G, H and I bondsUnited States Treasury billsU.S. Government certificatesU.S. Government bondsU.S. Government notesTerritorial obligations:Guam - Principal and interest from bonds issued by the Government of Guam (48 USCS section 1423[a]).Puerto Rico - Principal and interest from bonds issued by the Government of Puerto Rico (48 USCS section 745).Virgin Islands - Principal and interest from bonds issued by the Government of the Virgin Islands (48 USCS section 1403).Northern Mariana Islands - Principal and interest from bonds issued by the Government of the Northern Mariana Islands (48 USCS section 1681(c)).Federal agency obligations:Commodity Credit Corporation - Principal and interest from bonds, notes, debentures, and other similar obligations issued by the Commodity Credit Corporation (15 USCS section 713a–5).Banks for Cooperatives - Principal and interest from notes, debentures, and other obligations issued by Banks for Cooperatives (12 USCS section 2134).Farm Credit Banks - Principal and interest from systemwide bonds, notes, debentures, and other obligations issued jointly and severally by Banks of the Federal Farm Credit System (12 USCS section 2023).Federal Land Bank Association - Principal and interest from bonds, notes, debentures, and other obligations issued by the Federal Land Bank Association (12 USCS section 2098).Financial Assistance Corporation - Principal and interest from notes, bonds, debentures, and other obligations issued by the Financial Assistance Corporation (12 USCS section 2278b–10[b]).Production Credit Association - Principal and interest from notes, debentures, and other obligations issued by the Production Credit Association (12 USCS section 2077).Federal Deposit Insurance Corporation (FDIC) Principal and interest from notes, bonds, debentures, and other such obligations issued by the Federal Deposit Insurance Corporation (12 USCS section 1825).Federal Financing Bank - Interest from obligations issued by the Federal Financing Bank. Considered to be United States Government obligations (12 USCS section 2288, 31 USCS section 3124[a]).Federal Home Loan Bank - Principal and interest from notes, bonds, debentures, and other such obligations issued by any Federal Home Loan Bank and consolidated Federal Home Loan Bank bonds and debentures (12 USCS section 1433).Federal Financing Corporation - Principal and interest from notes, bonds, debentures, and other such obligations issued by the Federal Financing Corporation (12 USCS section 2288(b)).Financing Corporation (FICO) - Principal and interest from any obligation of the Financing Corporation (12 USCS Sections 1441[e][7] and 1433).General Services Administration (GSA) - Principal and interest from General Services Administration participation certificates. Considered to be United States Government obligations (31 USCS section 3124[a]).Housing and Urban Development (HUD). Principal and interest from War Housing Insurance debentures (12 USCS section 1739[d]).Principal and interest from Rental Housing Insurance debentures (12 USCS section 1747g[g]).Principal and interest from Armed Services Mortgage Insurance debentures (12 USCS section 1748b[f])Principal and interest from National Defense Housing Insurance debentures (12 USCS section 1750c[d]).Principal and interest from Mutual Mortgage Insurance Fund debentures (12 USCS section 1710[d]).National Credit Union Administration Central Liquidity Facility - Income from notes, bonds, debentures, and other obligations issued on behalf of the National Credit Union Administration Central Liquidity Facility (12 USCS section 1795k[b]).Resolution Funding Corporation - Principal and interest from obligations issued by the Resolution Funding Corporation (12 USCS Sections 1441[f][7] and 1433).Student Loan Marketing Association (Sallie Mae) - Principal and interest from obligations issued by the Student Loan Marketing Association. Considered to be United States Government obligations (20 USCS section 1087–2[1], 31 USCS section 3124[a]).Tennessee Valley Authority - Principal and interest from bonds issued by the Tennessee Valley Authority (16 USCS section 831n–4[d]).United States Postal Service - Principal and interest from obligations issued by the United States Postal Service (39 USCS section 2005[d][4]).Certificates on Government Receipts.The following are not considered federal securities and are taxable:Federal Agency Obligations:Building and Loan AssociationsCredit Unions, federal or stateExport-Import Bank of the United StatesFederal Agricultural Mortgage Corporation (Farmer Mac)Federal Home Loan Mortgage Corporation (Freddie Mac) SecuritiesFederal Housing AdministrationFederal income tax refunds, interestFederal National Mortgage AssociationFederal National Mortgage Association (Fannie Mae) SecuritiesGovernment National Mortgage Association (Ginnie Mae) SecuritiesMerchant Marine (Maritime Administration)Money Market CertificatesMortgage Participation CertificatesSavings and Loan Associations, federal or stateSmall Business Administration
州税吗？住在高税州，这个也要考虑一下。谢谢！
What is the tax status of the Farm Credit Debt Securities? Under the Farm Credit Act, Farm Credit Debt Securities and the interest thereon are exempt from state, local and municipal income taxes
https://www.rbcwm-usa.com/resources/file-687493.pdf
根据里面的表格，Federal Farm Credit Bank 利息不交州税
Interest from Fannie, Freddie even Ginnie都要交
https://tax.iowa.gov/node/830/printable/print
B. Deduct interest received from Federal securities (for example U.S. Savings Bonds, U.S. Treasury Notes).Do not subtract interest from repurchase agreements of U.S. Government securities.
The following are exempt: United States Government obligations: United States Treasury - Principal and interest from bills, bonds, and notes issued by the United States Treasury exempt under 31 USCS section 3124[a]. Series E, F, G, H and I bonds United States Treasury bills U.S. Government certificates U.S. Government bonds U.S. Government notes Territorial obligations: Guam - Principal and interest from bonds issued by the Government of Guam (48 USCS section 1423[a]). Puerto Rico - Principal and interest from bonds issued by the Government of Puerto Rico (48 USCS section 745). Virgin Islands - Principal and interest from bonds issued by the Government of the Virgin Islands (48 USCS section 1403). Northern Mariana Islands - Principal and interest from bonds issued by the Government of the Northern Mariana Islands (48 USCS section 1681(c)). Federal agency obligations: Commodity Credit Corporation - Principal and interest from bonds, notes, debentures, and other similar obligations issued by the Commodity Credit Corporation (15 USCS section 713a–5). Banks for Cooperatives - Principal and interest from notes, debentures, and other obligations issued by Banks for Cooperatives (12 USCS section 2134). Farm Credit Banks - Principal and interest from systemwide bonds, notes, debentures, and other obligations issued jointly and severally by Banks of the Federal Farm Credit System (12 USCS section 2023). Federal Land Bank Association - Principal and interest from bonds, notes, debentures, and other obligations issued by the Federal Land Bank Association (12 USCS section 2098). Financial Assistance Corporation - Principal and interest from notes, bonds, debentures, and other obligations issued by the Financial Assistance Corporation (12 USCS section 2278b–10[b]). Production Credit Association - Principal and interest from notes, debentures, and other obligations issued by the Production Credit Association (12 USCS section 2077). Federal Deposit Insurance Corporation (FDIC) Principal and interest from notes, bonds, debentures, and other such obligations issued by the Federal Deposit Insurance Corporation (12 USCS section 1825). Federal Financing Bank - Interest from obligations issued by the Federal Financing Bank. Considered to be United States Government obligations (12 USCS section 2288, 31 USCS section 3124[a]). Federal Home Loan Bank - Principal and interest from notes, bonds, debentures, and other such obligations issued by any Federal Home Loan Bank and consolidated Federal Home Loan Bank bonds and debentures (12 USCS section 1433). Federal Financing Corporation - Principal and interest from notes, bonds, debentures, and other such obligations issued by the Federal Financing Corporation (12 USCS section 2288(b)). Financing Corporation (FICO) - Principal and interest from any obligation of the Financing Corporation (12 USCS Sections 1441[e][7] and 1433). General Services Administration (GSA) - Principal and interest from General Services Administration participation certificates. Considered to be United States Government obligations (31 USCS section 3124[a]). Housing and Urban Development (HUD). Principal and interest from War Housing Insurance debentures (12 USCS section 1739[d]). Principal and interest from Rental Housing Insurance debentures (12 USCS section 1747g[g]). Principal and interest from Armed Services Mortgage Insurance debentures (12 USCS section 1748b[f]) Principal and interest from National Defense Housing Insurance debentures (12 USCS section 1750c[d]). Principal and interest from Mutual Mortgage Insurance Fund debentures (12 USCS section 1710[d]). National Credit Union Administration Central Liquidity Facility - Income from notes, bonds, debentures, and other obligations issued on behalf of the National Credit Union Administration Central Liquidity Facility (12 USCS section 1795k[b]). Resolution Funding Corporation - Principal and interest from obligations issued by the Resolution Funding Corporation (12 USCS Sections 1441[f][7] and 1433). Student Loan Marketing Association (Sallie Mae) - Principal and interest from obligations issued by the Student Loan Marketing Association. Considered to be United States Government obligations (20 USCS section 1087–2[1], 31 USCS section 3124[a]). Tennessee Valley Authority - Principal and interest from bonds issued by the Tennessee Valley Authority (16 USCS section 831n–4[d]). United States Postal Service - Principal and interest from obligations issued by the United States Postal Service (39 USCS section 2005[d][4]). Certificates on Government Receipts. The following are not considered federal securities and are taxable: Federal Agency Obligations: Building and Loan Associations Credit Unions, federal or state Export-Import Bank of the United States Federal Agricultural Mortgage Corporation (Farmer Mac) Federal Home Loan Mortgage Corporation (Freddie Mac) Securities Federal Housing Administration Federal income tax refunds, interest Federal National Mortgage Association Federal National Mortgage Association (Fannie Mae) Securities Government National Mortgage Association (Ginnie Mae) Securities Merchant Marine (Maritime Administration) Money Market Certificates Mortgage Participation Certificates Savings and Loan Associations, federal or state Small Business Administration