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Duration: 3:41

尽管市政债券的投资者⽆需缴纳联邦税,但可能需要向他们居住的州、县和/或城市纳税。

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Study Notes – 学习笔记:

U.S. Municipal Bond Market
美国市政债券市场系列

第10 讲 – 税收注意事项

尽管市政债券的投资者⽆需缴纳联邦税,但可能需要向他们居住的州、县和/或城市纳税。

我们在之前的课程中提到过,如果投资者购买州内市政债券,所得利润是⽆需缴纳联邦、州和地⽅所得税的。但是如果是州外购买市政债券,所得利润⽆联邦课税,但是⼀般需要缴纳州和地⽅税。

⼀些市政证券被称为“三免“,这意味着包括波多黎各和关岛在内的美国领⼟上发⾏的⼀些市政债券,产⽣的收益⽆需缴纳联邦、州或者地⽅税。

“建设美国债券”,简称BABs,属于应税市政债券。该项⽬起源于2009年发布的《美国复苏和再投资法案》。

BAB项⽬于2010年被废⽌,该计划的⽬的是为了帮助州和地⽅政府以较低的成本 为道路、桥梁和公⽴学校等基本建设项⽬筹备资⾦。这些通常吸引着应税固定收益投资者。

 

在之前的课程中我们为⼤家介绍了如何⽐较企业债券的税后净收益 与联邦免税债券的应税当量收益。

总结⼀下,公司债券通常要缴纳联邦税和州税,⽽美国国债则需缴纳联邦税,但⽆州税。市政证券则⽆联邦应税,⽽且根据购买者的居住地情况,地⽅税也可能被减免。

税法变更

美国的税法⼀直保持更新。⽐如,最近更新的2017年《减税和就业法案》有效地限制了州和地⽅税收减免的上限,通常被称为SALT减免。

我们在本课的注释中提供了IRS ⽹站的链接,您可以找到有关此规则的更多信息以及示例。

资本收益和损失

还需要注意的是,市政债券及其资本收益和损失,以及包括股票等其他需纳税的资本资产。这些资本的税务与市政债券的利息税是不同的。

通常,如果市政债券的出售价格低于其成本,则被视为资本损失,⽽如果出售价格⾼于成本,投资者将获得资本收益。

虽然市政证券⽆需缴纳联邦税,但是通过销售或召回⽽获得的资本收益可能会产⽣税务,在⼀些情况下,这种收益可能会被报告为普通的所得收⼊。

披露

请注意,本演示⽂稿中的信息仅为参考,不应作为税务、法律或会计建议的依据。在进⾏任何交易之前,您应该咨询⾃⼰的税务、法律和会计顾问。

230 号⽂
本演示材料中的信息仅供参考,不构成税收建议,不⽤做接收⽅或纳税⽅规避任何联邦、州、地⽅或者其他税收法规,不解决任何税务问题。


Disclosure: Interactive Brokers - 盈透证券香港有限公司

美国盈透证券是NYSE – FINRA – SIPC的成员,受美国证监会(SEC)和商品期货交易委员会(the Commodity Futures Trading Commission)监管。盈透證券香港有限公司受香港證券及期貨事務監察委員會(SFC)監管,是香港交易所(HKEX)和香港期貨交易所(HKFE)的成員。

Disclosure: Interactive Brokers

Information posted on IBKR Traders’ Academy that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Academy are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Interactive Brokers - 盈透证券香港有限公司 and is being posted with permission from Interactive Brokers - 盈透证券香港有限公司. The views expressed in this material are solely those of the author and/or Interactive Brokers - 盈透证券香港有限公司 and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

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