What are examples of nontaxable dividends and interest?
• From stock in national banks (Not holding companies – See Taxable Dividends) • From stock in state banks in Tennessee (Not holding companies – See Taxable Dividends) • From federal and other building and/or savings and loan associations situated in Tennessee • From stock in insurance companies licensed to do business in Tennessee (Not holding companies – See Taxable Dividends) • From insurance policies • From loan companies in Tennessee • From cemetery companies in Tennessee • From credit unions (No income from a credit union is taxable.) • Percentage of income from mutual funds or investment trusts that was derived from obligations of the U.S. Government or the state of Tennessee and its political subdivision INTEREST: • On bonds of state of Tennessee, its counties, municipalities or other political subdivisions • On bonds of U.S. Government and its agencies (Interest on investments backed or guaranteed by the U.S. Government is taxable. For example, interest in connection with inve
