NY Bill Would Repeal Tax For State Charters

Register now

A bill introduced in the state legislature would repeal the state's 8.25% sales tax on purchases made by state-chartered credit unions. The bill, which died in last year's legislature, would save the state's 34 state charters around $2 million a year in both sales and compensating use taxes. The tax relief measure is the top priority of the New York CU League, which helped get the bill introduced.

Contact Ed Roberts at eroberts cujournal.com.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER