Paul L. Caron
Dean




Friday, February 16, 2007

MAGNY Hosts Luncheon Program and Webcast Today on Davis

The Municipal Analysts Group of New York is hosting a luncheon program at 12:15 p.m. today on Davis v. Kentucky Department of Revenue,193 S.W.3d 557 (Ky. App. 2006), in which the Kentucky Court of Appeals held that the state's tax system violates the dormant commerce clause of the U.S. Constitution by exempting interest on Kentucky state & local bonds while taxing interest on out of state bonds. The opinion notes that Kentucky's system is used in a majority of states, and that the only court to consider the commerce clause issue (Ohio) upheld the constitutionality of the system.  (Kentucky has filed a cert. petition in the U.S. Supreme Court, and the taxpayers have filed their response.)

Note that the US Supreme Court is scheduled to decide the status of Davis at today's conference. Because of strong interest expressed by MAGNY’s sister regional societies, an audio-only replay and podcast of the proceedings will be available via NFMA’s website after the luncheon.

The speakers at today's program are:

For more on Davis, see this alert from Loeb & Loeb's Tax & Wealth Services Group. Prior TaxProf Blog coverage:

https://taxprof.typepad.com/taxprof_blog/2007/02/magny_hosts_lun.html

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