State Tax Maps

FNMA / FHLMC Bond Interest

State treatment of Fannie Mae and Freddie Mac bond interest. Their enabling statutes grant no bondholder tax exemption; all income-tax states tax this interest.

TY 2025
Taxable at ordinary rates
Exempt (no income tax / out of base)
Territory (taxable)
fed·salt · every value cited to primary .gov statute · click any state for the sourcefed-salt.com

TY2025. FHLB and FFCB bond interest IS exempt in all states under 12 U.S.C. §1433 and §2023 (their own enabling statutes). No-tax states and WA (CG excise does not reach interest income) are exempt by default. Philadelphia is exempt because the Wage Tax and NPT do not reach investment interest income.