Tasos Katopodis / Getty Images Earnings not subject to income tax, whether federal or state, are referred to as exempt income. Exempt income is income that's not subject to income tax.

"It's a misconception that tax exempt bonds, protects the wealthy," said Vikram Rai lead strategist at the municipal division at Wells Fargo. "About 75% are held by retail, meaning moms and pops.

Exemptions and thresholds for inheritance ... Here they are, broken down by state (note: Iowa eliminated its inheritance tax as of this year, meaning it doesn’t apply to assets bequeathed ...

The House Ways and Means Committee approved a plan to make distributions of up to $29,200 a year from an Individual ...