Interest Income on Private Activity Bonds Issued in 2015 Reduced

question 93

True/False

Interest income on private activity bonds issued in 2015 reduced by expenses incurred in carrying the bonds is a preference item that is included in computing AMTI.

---

Definitions:

Zoning Officer

A municipal official responsible for enforcing local zoning regulations, ensuring land and buildings are used in compliance with planning laws.

Deceit

The act of deceiving someone by concealing or misrepresenting the truth.

Zoning By-Laws

Regulations enacted by municipalities controlling the use of land and buildings, specifying types of buildings allowed in particular areas.

Physical Injury

Bodily harm caused by external force or action, which can include cuts, fractures, burns, or internal damage.