The Supreme Court on Monday said it will consider a case that could have big implications for the $3 trillion municipal bond market. The issue is whether states can exempt their municipal bonds from taxes while taxing such bonds issued by other states. A Kentucky court ruled last year that the practice violates the Constitution, which prohibits states from discriminating against out-of-state commerce.
May 22, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The Supreme Court Monday said it will consider a case that could have big implications for the $3 trillion municipal bond market.
The issue is whether states can exempt their muni bonds from taxes while taxing such bonds issued by other states. A Kentucky court ruled last year that the practice violates the Constitution, which prohibits states from discriminating against out-of-state commerce.
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