Business: Tax-Exemption Trend

A new low in the interest yield on long-term tax-exempt bonds came last week: a bloc of Connecticut State 1½, due in 1967, changed hands at a price that will net the buyer 1%. At such a rate, it is more profitable for people in low tax brackets to buy taxable bonds and pay income taxes on their yields. But by people with really big fortunes and tremendous taxes, long-term tax-exempts are still eagerly sought after, tightly held.

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!