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Proposed Rules Defining “Political Subdivision” for Tax-Exempt Bond Purposes Withdrawn (REG-129067-15)

The IRS and Treasury have officially withdrawn the February 2016 proposed regulations (NPRM REG-129067-15, I.R.B. 2016-10, 421) defining the term “political subdivision” for purposes of tax-exempt bonds under Code Sec. 103. Interest on obligations of a U.S. state, territory, or possession or of a political subdivision of any of the foregoing or of the District […]

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