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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CASH BUDGET tracks a business's anticipated cash receipts and disbursements. This is a very detailed and important schedule that draws on information in the Operating Budget.

BUSINESS ENTITY is a selection of the legal form under which a business is to operate: sole proprietorship, general partnership, corporation, S corporation (in the U.S.), or, a limited liability company.

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