EXCLUSION OF INTEREST ON OBLIGATIONS
42.15.216 EXCLUSION OF INTEREST ON OBLIGATIONS
(1) Interest on United States government obligations, as defined in ARM 42.15.204 , and mutual fund dividends attributable to that interest, to the extent included in federal taxable income , are exempt from Montana income tax. Interest on obligations of U.S. territories and government agency obligations specifically exempted by federal law, and mutual fund dividends attributable to that interest, are also exempt from Montana income tax.
(2) United States obligations that are exempt include:
(a)#
(a) series E, EE, F, G, H, and HH savings bonds;
(b)#
(b) U.S. treasury bills;
(c)#
(c) U.S. government notes; and