Michigan Gov Treasury Unclaimed Property
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Unitholders should be aware that, generally, interest on indebtedness incurred or continued to purchase or carry Units is not deductible for purposes of the Personal Income Tax, the Corporate Income Tax or the Philadelphia School Tax.
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The court also noted, however, that since Congress regulates interstate commerce, it could change the standard via federal law. General obligation bonds are backed by the general taxing power of the issuer. Treasury & Income Tax Office Lansing MI.
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