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Municipal Bond Investors May Pay Less Taxes
The Kentucky Supreme Court has allowed to stand an appeals court ruling that holds that it is unconstitutional for a state to tax only out-of-state bonds.
The ruling could have major impact upon other states in what is estimated to be a $2.3 trillion dollar municipal bond market. Lawsuits in all other states may follow.
Source: Wall Street Journal, September 6, 2006
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