Tax 'Clean-Up' Could Drag CUs Into Issue

The Nevada Legislature is not in session this year. Last year, thanks to the close relationships Nevada credit union leaders have developed with state legislators, we defended credit unions against unrelated business income tax, and income, payroll and per-branch tax proposals that arose as the legislature struggled with the state's budget deficit-even as Nevada's banks ended up paying a special 2% payroll tax and a per-branch tax. Legislation may be introduced in 2005 to clean up the tax package passed for banks, which could be an opportunity for bankers to try to drag credit unions back into the tax issue. We will fight hard to prevent this, and credit union leaders and the Nevada Credit Union League are developing an advocacy strategy for this year that will best position us for the 2005 legislative session.