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What does doctrine of mutual reciprocity mean?

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doctrine of mutual reciprocity
Noun

The reciprocal tax agreement between the US federal government and US state and local governments under which income on securities issued by the one government entity is excluded from taxation by the other government entity, upon which the federal income tax exemption on interest paid on municipal securities is based.

Synonym(s): 
  • mutual exclusion doctrine; principle of reciprocity; reciprocal immunity doctrine.
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