17 NCAC 05C .0406         MORTGAGE BACKED CERTIFICATE GUARANTEED BY GNMA

Interest paid by the issuer to the holder of a mortgage backed certificate guaranteed by Government National Mortgage Association (GNMA) is not income from an obligation of the United States and is taxable.

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.