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REV-1643EX (01-10)

TAX-EXEMPT OBLIGATIONS

FOR PENNSYLVANIA PERSONAL

Bureau of Individual Taxes

INCOME TAX PURPOSES

Harrisburg PA 17128-0605

INTEREST - TAX-EXEMPT

Interest derived from obligations not statutorily free from state or local taxation under any other act of the General Assembly

or under the laws of the U.S. is subject to PA personal income tax. Interest on obligations issued by or on behalf of the U.S.

government is not subject to PA personal income tax. 61 Pa. Code §103.16(e).

INTEREST - NON TAX-EXEMPT (OTHER STATES)

Interest on obligations of other states and territories, their political subdivisions and instrumentalities is taxable for PA per-

sonal income tax purposes. 61 Pa. Code §103.16(e).

GAIN OR (LOSS) FROM THE SALE, EXCHANGE OR DISPOSITION OF TAX-EXEMPT OBLIGATIONS

Gain or loss shall be recognized on the sale, exchange or other disposition of obligations issued by the commonwealth, a pub-

lic authority, commission, board or other agency created by the commonwealth, a political subdivision or exempt from state

taxation under the laws of the U.S. only with respect to obligations issued on or after Feb. 1, 1994. 61 Pa. Code §103.13(j).

OBLIGATIONS OF FEDERAL AGENCIES, INSTRUMENTALITIES AND TERRITORIES EXEMPT FROM PA

PERSONAL INCOME TAX:

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Banks for Cooperatives, 12 USC §2134

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Federal District Banks for Cooperatives, 12 USC §2121

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Central Banks for Cooperatives, 12 USC §2121

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Commodity Credit Corporation, 15 USC §713a-5

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Farm Credit System Capital Corporation: Consolidated Obligations, 12 USC §2278a-11 (replaces 12USC §2216k)

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Farm Credit System Joint Stock Banks, 12 USC §2023 (12 USC §931 replaced by 12 USC §2055, replaced by USC

§2023)

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Farm Credit System Land Banks and Land Bank Associations, 12 USC §2023

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Federal Crop Insurance Corporation, 7 USC §1511

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Federal Deposit Insurance Corporation, 12 USC §1825

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Federal Farm Credit Banks (merger of Federal District Intermediate Credit Banks and

Federal Land Banks, 12 USC §2011), 12 USC §2023

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Federal Financing Bank, 12 USC §2290(b)

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Federal Home Loan Banks, 12 USC §1433

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Federal Land Bank Associations, 12 USC §2098

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Financing Corporation, 12 USC §1441(e)(8)

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General Insurance Fund, issued under

Armed Services Mortgage Insurance, 12 USC §1748(b)(f)

National Defense Housing Insurance, 12 USC §1750c(d)

Rehabilitation and Neighborhood Conservation Housing Insurance, 12 USC §1715k(h)(7)

Rental Housing Insurance Fund, 12 USC §1747g

Rental Housing Insurance Fund Mortgage Insurance, 12 USC §1713(i)

War Housing Insurance law, 12 USC §§1739(d) and 1744(e)

Insurance of Loans for Manufacture of Houses, 12 USC §1739

Mortgage Insurance Benefits, 12 USC §1750c

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Government of the Northern Mariana Islands, 48 USC §1801, and Covenant to Establish a Commonwealth of the

Northern Mariana Islands in a Political Union with the United States Article IV §607(a)

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Government of Puerto Rico, 48 USC §745

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Government of Virgin Islands, 48 USC §§1403, 1574(b)(iii)(A)

Form Rev-1643ex - Tax-Exempt Obligations For Pennsylvania Personal Income Tax Purposes

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