What Davis Means for Constitutional and Statutory Interpretation

Abstract:     
Recently the U.S. Supreme Court handed down its decision in Department of Revenue v. Davis. The Court addressed the so-called home state exemption, that is, the widespread practice of a state exempting from its income tax interest paid on bonds issued by the state itself without similarly exempting interest paid on bonds issued by other states. Resolving a conflict between state courts, a significantly divided Supreme Court held that the negative or dormant commerce clause does not prohibit home state exemptions.

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