Archive - May 9, 2008

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What do municipal bonds and 529 plans have in common?

What do municipal bonds and 529 plans have in common?

The Supreme Court is considering an appeal to Kentucky versus Davis, a lawsuit that could have an impact on the state tax treatment of both municipal bonds and some state 529 plans.

As described in this article from the Wall Street Journal (also available here as an excerpt from the Albany Times Union, if you don’t have access to the WSJ site), the case is a lawsuit in which the plaintiffs argued that it is unlawful for a state to provide a tax exemption for its own bonds while not providing the same exemption for out-of-state municipal bonds.  Kentucky’s …

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