Series 24: 3.6.4.1. Tax Considerations

3.6.4.1. Tax Considerations

Retail communications and correspondence that refer to tax-free or tax-exempt income must indicate which income taxes apply, unless income is free from all applicable taxes. Communications may not characterize income or investment returns as tax-free or exempt from income tax when tax liability is merely postponed or deferred, such as when taxes are payable upon redemption.