High Court may decide if muni bond system is unconstitutional

01/31/2007 | CNNMoney/Fortune

The U.S. Supreme Court may hear arguments in a case with the potential to alter the entire market for municipal bonds. At issue is a lawsuit filed by a couple from Kentucky who say that state's policy of taxing income from out-of-state muni bonds, but not from Kentucky muni bonds, violates the Commerce Clause and the Equal Protection Clause of the U.S. Constitution.

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