MUNICIPAL NOTE Definition

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MUNICIPAL NOTE, also known as a tax-exempt note, is an instrument generally issued with a maturity of one year or less by a municipality or public entity. The interest paid on this instrument is exempt from federal income taxes.

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MACRS is Modified Accelerated Cost Recovery System.

GOING CONCERN refers to the liquidity of a concern. If the concern is illiquid, the viability of that concern being able to continue to operate is in doubt.

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