What kind of fund is the Ohio Municipal Income Fund?
What kind of fund is the Ohio Municipal Income Fund?
A credit-focused approach to single-state municipal bond investing.
What is Municipal Income Fund?
A municipal bond fund is a fund that invests in municipal bonds. Municipal bond funds can be managed with varying objectives that are often based on location, credit quality, and duration. Municipal bond funds are exempt from federal tax and may also be exempt from state taxes.
Does Ohio tax municipal bonds?
Muni Ohio portfolios invest at least 80% of assets in Ohio municipal debt and can include long-, intermediate-, and short-duration portfolios. Because the income from these bonds is generally free from federal taxes and Ohio state taxes, these portfolios are most appealing to residents of Ohio.
How do you buy municipal bonds in Ohio?
‘ Investors cannot purchase bonds directly from the state, they must be purchased through a broker. Individual investors earn the same investment return as institutional investors who buy the same bond maturity. Individuals should check with their broker to learn about any transaction or account maintenance fees.
When you purchase a municipal bond you are?
Municipal bonds (munis) are debt obligations issued by government entities. When you buy a municipal bond, you are loaning money to the issuer in exchange for a set number of interest payments over a predetermined period.
Do you pay taxes on municipal bond funds?
Income from investing in municipal bonds is generally exempt from Federal and state taxes for residents of the issuing state. While the interest income is tax-exempt, any capital gains distributed are taxable to the investor.
Are municipal bonds tax free in Ohio?
Are Ohio municipal bonds tax free?
Is income from municipal bonds taxable?
Income from investing in municipal bonds is generally exempt from Federal and state taxes for residents of the issuing state. While the interest income is tax-exempt, any capital gains distributed are taxable to the investor. Income for some investors may be subject to the Federal Alternative Minimum Tax (AMT).
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