Bond Bliss

Petersen, John E.
July 2008
Governing;Jul2008, Vol. 21 Issue 10, p59
The article reports on the U.S. Supreme Court's decision on a case centered on the practice of states granting tax exemption to the interest on bonds. In Kentucky, granting tax exemption to the interest on bonds issued by themselves or their subdivisions, while taxing the interest in bonds issued by others is implemented. It is said that the court upheld the constitutionality of Kentucky's taxing practice and reversed a Kentucky appellate court's holding that the state's laws discriminate against interstate commerce.


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