Can a cross fiscal year TRAN be issued as a tax-exempt note?
Yes. The timing of a TRAN sale does not impact its ability to be issued as tax exempt. We expect that participants’ cross fiscal year TRANs will be sized according to IRS regulations that will enable the TRANs to be sold as tax exempt notes. Issuers who would like to be free of the IRS regulations regarding TRAN issuance may always choose to issue all or a portion of their TRAN issuance as taxable notes.
Related Questions
- ITG FAQ # 11 Answer-Are there any information reporting requirements applicable to tax-exempt bonds issued by tribal governments?
- If the district already issued a TRAN for the 2010-2011 fiscal year can the district issue a cross fiscal year TRAN as well?
- Can I use a gift voucher/credit note that was issued at another Barbour store?
