Are there any tax implications for the interest earned on these investments?

Yes, there are tax implications for the interest earned on these investments. Most interest income earned by investments is taxable on both the federal and state levels. You pay taxes on interest income at your ordinary income tax rate. However, there are some exceptions to this rule, such as for certain types of interest income from government securities. It's important to understand the tax laws and regulations that apply to your specific investments to ensure that you are paying the correct amount of taxes.