Wednesday, September 6, 2006
Following up on yesterday's post (Davis: Another Constitutional Shot Across the Tax Bow) on Davis v. Department of Revenue, No. 2004-CA-001940-MR (Kent. Ct. App. 1/6/06), appeal denied, No. 2006-SC-105-D (Kent. Sup. Ct. 8/17/06), Tom Herman has an interesting article on the case in today's Wall Street Journal: Kentucky Suffers Setback in Muni-Bond Tax Case:
A Kentucky couple recently won a courtroom battle in a case that is stirring widespread interest among municipal-bond investors and state government officials....
Reaction to the Davis case is beginning to heat up among tax-law professors. Several law professors have weighed in with different views on a popular blog, TaxProf Blog, run by Paul Caron, a law professor at the University of Cincinnati College of Law. Richard Pomp, of the University of Connecticut School of Law, agrees with the ruling, saying Kentucky's exemption of out-of-state bonds "discriminates against the interstate flow of capital."