Can the U.S. government and the state governments' obligations be reported together?
518 views | Last modified 9/18/2020 7:09:46 AM EST | Added by ExpressTaxExempt Team

Applicable To
990-PF 990-N 990-EZ 990 8868 1120-POL

The obligations of the U.S government and the state governments should not be combined. 

The assets coming under the obligations of the state or the municipal government may be separately reported as a lump-sum total. The debt securities of the U.S. government may be listed as a single total.

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