New York CUs Re-Aim At TaxRelief

ALBANY, N.Y. - (02/07/05) -- A bill introduced last week in thestate legislature would repeal the state's 8.25% sales tax onpurchases made by state-chartered credit unions. The bill, whichdied in last year's legislature, would save the state's 34 statecharters around $2 million a year in both sales and compensatinguse taxes. The tax relief measure is the top priority of the NewYork CU League, which helped get the bill introduced.