U.S. Supreme Court
May 21, 2008
Supreme Court Upholds States' Tax Exemptions
Refusing to disrupt long-standing tax policies in California and most other states, the U.S. Supreme Court Monday upheld the states' ability to provide tax breaks on in-state municipal bonds while charging tax on income earned from out-of-state bonds.
Daily Journal Staff Writer
This article appears on Page 1
WASHINGTON - Refusing to disrupt long-standing tax policies in California and most other states, the U.S. Supreme Court Monday upheld the states' ability to provide tax breaks on in-state municipal bonds while charging tax on income earned from out-of-state bonds.
By a 7-2 vote, the court rejected a...
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