South Carolina v. Baker, 485 U.S. 505 (1988), was a United States Supreme Court case in which the Court ruled that section 310(b)(1) of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) does not violate the Tenth Amendment to the United States Constitution.

Anonymous bearer bonds, which often were used in money laundering, were no longer exempt, however.

South Carolina sued to have the federal tax advantage restored for all their bonds.

The US Supreme Court also ruled that a nondiscriminatory federal tax on the interest earned on state bonds does not violate the intergovernmental tax immunity doctrine, which permitted the federal taxation of interest income on bonds issued by state governments in the United States.

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