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§ 9901. Taxability of government obligations

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal Affairs

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 5. Tax Reform Code of 1971 (Refs & Annos)
Article XXIX. Governmental Obligations
72 P.S. § 9901
§ 9901. Taxability of government obligations
Currentness
(a) Except as provided in subsections (b) and (c), all obligations, interest on obligations and income from obligations issued on or after the effective date of this section by the Commonwealth, any public authority, commission, board or other agency created by the Commonwealth or any political subdivision of the Commonwealth or any public authority created by any political subdivision of the Commonwealth shall at all times be free from taxation for State and local purposes within the Commonwealth.
(b) Government obligations described in subsection (a) shall continue to be subject to inheritance and estate taxes imposed by Article XXI.1
(c) Profits, gains or income derived from the sale, exchange or other disposition of government obligations described in subsection (a) shall be subject to State or local taxation.

Credits

1971, March 4, P.L. 6, No. 2, art. XXIX, § 2901, added 1993, Dec. 3, P.L. 473, No. 68, § 5, effective in 60 days.

Footnotes

1
72 P.S. § 9101 et seq.
72 P.S. § 9901, PA ST 72 P.S. § 9901
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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