Taxable vs. Tax-Exempt Yield Calculator

Are you better off investing in a taxable or a tax-exempt bond fund? To find out, you need to know the taxable equivalent yield of the tax-exempt fund — i.e., the taxable return you would need to earn to at least equal the return of the tax-exempt fund.

Tax-Free Yield %
Marginal Federal Tax Bracket %
State Tax Bracket (optional) %
Local Tax Bracket (optional) %

Note: When comparing yields between two bond funds, be sure the funds have holdings with similar maturities and credit quality.

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