Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Ohio's Final Budget Minimizes Impact On CUs
COLUMBUS, Ohio (7/12/13)--The $62 billion Ohio state budget was signed into law without a huge expansion of the sales tax base--owing to the work of the Ohio Credit Union League and credit union peers on the State Budget Impact Work Group, said the league.
 
While credit unions came out of the budget process relatively untouched, the final version did include a 0.25% sales tax increase, to 5.75% from 5.5%, meaning state-chartered credit unions will pay a little more on taxable goods and services, the league said (eLumination Newsletter July 10).
 
Also, credit union service organizations currently subject to the Commercial Activity Tax will likely see an increase because that tax was changed to an incremental-scale based on gross receipts, the league said.
 
The league also noted that Gov. John Kasich remains steadfast in finding a legislative avenue to expand Medicaid. Several bills addressing this effort have been introduced, and any expansion of a state program likely means additional changes to tax policy in order to generate funding, the league added, saying it will remain watchful.
RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
7 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
9 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
9 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
9 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
11 hours ago