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One problem with SPAXX (which I realized when doing my state taxes last week) is that the monthly dividends it pays aren't exempt from state income tax. I expe
by mzd348 4y ago
One problem with SPAXX (which I realized when doing my state taxes last week) is that the monthly dividends it pays aren't exempt from state income tax. I expected that they would be, since SPAXX invests in federal-level government bonds, but they aren't.
- pwarner 4y agoYou probably need to buy bonds issued by your state, although that may increase risk
- qotgalaxy 4y ago[dead]
- javanissen 4y agoTreasuries are exempt from state taxes, at least when held directly