Municipal bonds are sold by cities, counties, states and other political bodies (public hospital, school district). The federal government and its agencies do not sell municipal bonds. However, most municipals are free of federal taxes. Because of this, the stated interest rate on municipals is typically lower than comparable non tax-exempt bonds. How much would you have to receive from a taxable bond to realize an equivalent yield? You can find the answer by entering the following information:       What is your federal income tax bracket? 10%15%25%28%33%35% What is the yield (in percentage points, 0 to 10 percent) on the municipal bond you are considering? %

*Gene A. Schnabel is a Registered Representative of and offers securities products & services through FSC Securities Corporation, a registered Broker-Dealer, Member FINRA/SIPC.  In this regard, this communication is strictly intended for individuals residing in the states of Arizona, Arkansas, California, Idaho, Iowa, Kansas, Nevada, North Carolina, Ohio, Oregon, South Carolina, Texas, Virginia, Washington, and Wisconsin.   No offers may be made or accepted from any resident outside the specific states referenced.

Gene A. Schnabel is also separately registered as an Investment Advisor Representative under FSC Securities Corporation, a Registered Investment Advisor offering advisory services in the state of California.  As such, these services are strictly intended for individuals who reside in California.

IMPORTANT CONSUMER INFORMATION

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