The threat is high. The Wisconsin Bankers Association has publicly promised to introduce harmful tax legislation. All but two Wisconsin credit unions have state charters, making state-level legislation bankers' likely route of attack. Though legislators have tried to avoid adding taxes in Wisconsin-a state with one of the highest tax burdens in the nation-this could change if the state's deficit does not decrease or if new lawmakers are elected. Instead of adding new taxes, the state could collect millions in taxes that have been skirted by Wisconsin's banks. Eleven of 15 big banks paid no corporate tax in 2000 by transferring assets out of state.
Processing Content
