Pioneer Press Mon, 19 May 2008 20:09:23 -0600
National And International Report / Justices uphold municipal bond tax exemption
The multi-trillion-dollar municipal bond market skirted a land mine Monday when the Supreme Court ruled that states could continue to give special tax breaks on the bonds that fund hospitals, roads, schools and other services. The justices ruled 7-2 in a case from Kentucky that states can exempt interest on their own bonds from taxation while taxing residents for interest on bonds issued by other states. In the $2.5 trillion municipal bond market, 41 states have systems similar to Kentucky's.
[[keywords: Legal;PropertyTax;Metro;]]
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