17 NCAC 05C .0405         OBLIGATIONS OF FEDERAL NATIONAL MORTGAGE ASSOCIATION

Interest income or other income realized on obligations of Federal National Mortgage Association is taxable income since the obligations are not those of the United States.

History Note:        Authority G.S. 105-130.5; 105‑262;

Eff. October 23, 1977;

Amended Eff. January 1, 1994;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.