State Codes and Statutes
Statutes > Maryland > Economic-development > Title-12 > Subtitle-3 > 12-309§ 12-309. Tax status.
(a) State and local.- A bond, the transfer of a bond, the interest payable on a bond, the income derived from a bond, and the profit realized on sale or exchange of a bond are exempt from State and local taxes.
(b) Federal.- A political subdivision may issue bonds under this subtitle without regard to their federal tax status.
[An. Code 1957, art. 41, § 14-809; 2008, ch. 306, § 2.]
