TEY

Tax Equivalent Yield Calculator

Details

How to use Tax Equivalent Yield Calculator

What the tool does, how to run it, and what to expect from the result.

About this tax equivalent yield calculator

Convert a tax-free municipal bond yield into the taxable yield you would need to earn the same after tax, including state tax. The math updates instantly and runs on your device, so it is fast, private, and available offline.

At a glance

Who Tax Equivalent Yield Calculator is for

A quick way to understand who this helps, what it solves, and where it connects next.

Best fit

Shoppers, students, freelancers, and anyone who needs a quick, private calculation.

Ideal for

Fast everyday math without a spreadsheet, app install, or sign-up.

FAQ

Common questions

Short answers for the questions people usually have before trying a utility like this.

Is the Tax Equivalent Yield Calculator free?

Yes. It is completely free, with no sign-up, no watermark, and no usage limits.

Does it use a specific currency?

No. Amounts are currency-neutral and use the same unit across all inputs, so it works in any country.

What is the tax-equivalent yield formula?

TEY = tax-free yield ÷ (1 − tax rate). A 3.5% muni in the 24% bracket equals a 4.61% taxable yield.

How is state tax included?

In-state munis are often free of state tax too. The combined rate is federal + state × (1 − federal), since state tax is deductible only in limited cases; enter 0 for state if the bond is out of state.

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