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An Analysis of the Tax Treatment of Credit Unions: Value of Florida Credit Unions’ Exemption Is Now $259 Million

Budget/Approps, Cost Savings, Economic Development, Local Government, Research, Taxes

Originally designed to serve specific community segments, credit unions have since expanded their reach and service offerings, making their tax exemptions increasingly valuable. From 1997’s exemption value of $89.1 million, the exemption’s worth has risen to $259 million in 2023. This report sheds light on the industry’s transformations, recent trends like mergers and acquisitions, and reevaluates the rationale behind the tax exemptions. It aims to fuel informed discussions on credit union taxation and their exemption status.

Tony Carvajal Joins Florida TaxWatch as Executive Vice President

Releases

Today, Florida TaxWatch (FTW) announced the appointment of Tony Carvajal as Executive Vice President. Mr. Carvajal succeeds Robert Weissert who is moving to Washington, D.C. to pursue the next chapter of his career after 14 great years with the taxpayer research institute. Along with Mr. Carvajal, TaxWatch also welcomes Carolyn Gosselin as Chief Growth and Strategy Officer, Tanya Bechtold as Director of Investor Relations, and Kat Dunn as Digital Content Manager. Florida TaxWatch is also announcing the promotions of Kurt Wenner and Bob Nave to Senior Vice Presidents of Research and Chris Barry to Vice President of Communications.

Florida TaxWatch In the News (April)

In the News

Florida TaxWatch is constantly looking to spread the word about our research, recommendations, and programs, all in pursuit of serving each and every taxpayer in Florida. Below is just a selection of where we’ve popped up in the last few weeks!

Complete your 2020 census questionnaire. It takes 10 minutes. It’s your civic duty

Op-Eds

As the impact of the Coronavirus, or COVID-19, continues to spread across our state and nation, so too does the uncertainty it brings to every community it touches. Businesses are shuttering. Everything is canceled. Unemployment is climbing at a record pace. And Congress on Friday passed the largest disaster relief bill in our nation’s history, directing trillions of dollars to help beat back the economic impacts of this pandemic. President Trump signed the bill into law late Friday afternoon. We are undoubtedly living in unprecedented and uncertain times, but it is during crises that we see the very best in our fellow Floridians. Over these past days and weeks, many have looked for ways to help and we have a simple suggestion — read your newspaper and complete the 2020 Census.

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