U.S. Supreme Court To Rule On Constitutionality Of State Tax Statutes Favoring In-State Municipal Bonds.
Mondaq Business Briefing › Nbr. 2007, January 2007
Linked as:
Extract
U.S. Supreme Court To Rule On Constitutionality Of State Tax Statutes Favoring In-State Municipal Bonds.
Article by Mintz Levin's Public Finance Group
On May 21, 2007, the U.S. Supreme Court agreed to review the closely-watched case of Davis v. Kentucky Dep't Of Revenue of The Finance and Admin. Cabinet, 97 S.W.3d 557 (2006). In granting Kentucky's certiorari petition, the Court has set the stage for a decision with nationwide impact on the existing practice of a substantial majority of states of treating interest on bonds issued by governmental entities in their state more favorably for tax purposes than interest on bonds issued by governmental entities in other states.1 The Court will review a Kentucky state court decision that Kentucky's statute, which exempts interest on municipal bonds from state income taxes only if the bonds are issued in Kentucky, is unconstitutional un...See the full content of this document
Sponsored links
