Bond Calculators
A municipal bond is exempt from federal and, in some cases, state income taxes but may be subject to the alternative minimum tax. This fact must be taken into consideration to make a meaningful return comparison between a municipal bond and a fully taxable investment, such as a stock or a corporate bond. Our Basic Taxable-Equivalent Yield Calculator is a free bond calculator that compares the yield on a municipal bond with that of a federally taxable investment. Our Advanced Taxable-Equivalent Yield Calculator is a free bond calculator that compares the yield on an in-state municipal bond (one that is exempt from federal and, if applicable, state income taxes) with that of an out-of-state municipal bond (i.e., one that is exempt only from federal income tax). It also compares the yield on an in-state bond with the yield on a fully taxable bond.