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Supreme Court Upholds State Tax Exemptions for In-State Municipal Bonds
May 22, 2008
By Joseph P. Opich and Matt Walding
In a 7-2 decision published May 19, 2008, the U.S. Supreme Court upheld the ability of the states to provide a state income tax exemption for interest derived from in-state municipal bonds while subjecting interest derived from municipal bonds issued by other states and their political subdivisions to tax.
