Munis: Kentucky vs Davis

The Supreme Court has finally agreed to hear the Kentucky vs Davis case which challenges the ability of a State to tax out-of-state muni bonds while giving preference to in-state securities which are not taxed. This case will be heard sometime after the next term begins on October 1st. We are still expecting this case to maintain the current tax system where 40 different states give preference to their own in-state securities. For further information please check our post on April 30 regarding the Supreme Court ruling against the trash haulers.