Municipal Bond Tax Equivalent Yield

This calculator will estimate the tax-equivalent yield (TEY) for a municipal bond. Income generated from municipal bond coupon payments are not subject to federal income tax. In addition, if the bond was issued in your state of residence, you can also avoid state income taxes. Use this calculator to determine the yield required by a fully taxable bond to earn the same after-tax income as a municipal bond.


Please note that all financial calculators require a JavaScript enabled browser. Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personal advice from qualified professionals regarding all personal finance issues.