C.F.R. » Title 31 » CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE › PART 340—REGULATIONS GOVERNING THE SALE OF TREASURY BONDS THROUGH COMPETITIVE BIDDING

31 C.F.R. § 340.3

Taxation

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The income derived from the bonds will be subject to all taxes imposed under the Internal Revenue Code of 1954. The bonds will be subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but will be exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any of the possessions of the United States, or by any local taxing authority.

Notes of Decisions
Cited in 2 cases, 2008–2009 · leading case: Bank of Guam v. United States, 578 F.3d 1318 (Fed. Cir. 2009).
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Bank of Guam v. United States, 578 F.3d 1318 (Fed. Cir. 2009). “4 (Treasury Bills); 31 C.F.R. § 340.3 (Treasury Bonds); 31 C.”
Bank of Guam v. United States, 80 Fed. Cl. 739 (Fed. Cl. 2008). “4 (2007) (Treasury bills); 31 C.F.R. § 340.3 (2007) (bonds sold through competitive bidding); 31 C.”
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