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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.

2020 Florida Legislative Session Wrap-Up

Budget/Approps, E-Fairness, Research

The bills passed by the 2020 Legislature included many recommended or supported by Florida TaxWatch research. The following Legislative Wrap-Up discusses all these bills and more. It shows what passed and what did not—both issues supported by Florida TaxWatch research and other important bills we monitored all session long to keep our members and the public informed on our Legislative Update webpage.

Panama City and Bay County Leaders Join Florida TaxWatch to Reiterate Importance of Increased Participation in the 2020 Census

Releases

Panama City, Fla. – Today, Florida TaxWatch (FTW) along with leaders from Panama City and Bay County highlighted the need for community participation in the 2020 Census. As the third largest and fourth fastest growing state in the country, the upcoming Federal Census count will be more important to the Sunshine State than nearly any other state. Federal grant programs distribute $700 billion using census data. If Florida is under-represented by the count, it could cost the state millions, or even billions, of dollars. Florida’s state and local officials need to immediately start ensuring the accuracy of the count by participating in existing intergovernmental processes to verify addresses and residences. 

Florida TaxWatch Announces 2020 Legislative Priorities for Florida Taxpayers

Releases

TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) announced its 2020 Legislative Priorities for Florida Taxpayers, outlining the top issues for the Florida Legislature to take up during the upcoming 60-day legislative session. The 2020 Florida Legislative Session is set to begin on Tuesday, January 14 and conclude with adjournment sine die on Friday, March 13.

City of Sarasota Elected Leaders Join Florida TaxWatch to Reiterate Importance of Increased Participation in the 2020 Census

Press Releases

Sarasota, Fla. – Today, Florida TaxWatch (FTW) along with elected leaders from the City of Sarasota highlighted the need for community participation in the 2020 Census. As the third largest and fourth fastest growing state in the country, the upcoming Federal Census count will be more important to the Sunshine State than nearly any other state. Federal grant programs distribute $700 billion using census data. If Florida is under-represented by the count, it could cost the state millions, or even billions, of dollars. Florida’s state and local officials need to immediately start ensuring the accuracy of the count by participating in existing intergovernmental processes to verify addresses and residences.

Leon County and City of Tallahassee Elected Leaders Join Florida TaxWatch to Announce Efforts to Increase Participation in the 2020 Census

Press Releases

TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) along with elected leaders from Leon County and the City of Tallahassee highlighted the need for community participation in the 2020 Census. As the third largest and fourth fastest growing state in the country, the upcoming Federal Census count will be more important to the Sunshine State than nearly any other state. Federal grant programs distribute $700 billion using census data. If Florida is under-represented by the count, it could cost the state millions, or even billions, of dollars. Florida’s state and local officials need to immediately start ensuring the accuracy of the count by participating in existing intergovernmental processes to verify addresses and residences.

A River (No Longer) Runs Through It

Energy & Environment, Research

This timely public policy debate centers on whether the dam and reservoir should remain in place or whether the dam should be breached to restore the natural flow of the Ocklawaha River. The “full retention” alternative would essentially maintain the status quo, while the “partial restoration” alternative would restore the river flow to near preconstruction conditions with limited removal of existing structures at the lowest cost. For each of these two alternatives, Florida TaxWatch examines the recreational,  economic, and environmental impacts.

Reducing Communications Service Tax Will Benefit A Wide Range Of Floridians, According To Florida TaxWatch

Press Releases

TALLAHASSEE, Fla. – Since the enactment of the Communications Services Tax (CST) Simplification Act in 2001, Florida TaxWatch has released several reports recommending that the Legislature reduce this burdensome and highly regressive tax on consumers. A new report by Florida’s premier independent government watchdog of forty years addresses Florida’s very high CST rate and the impact it has on the state and the taxpayers.

Reducing the Communications Services Tax Would Provide Relief to Virtually All Florida Families and Businesses; Florida’s High Tax Rate is Punitive, Distortionary, and Non-Competitive

Research, Taxes

Since the enactment of the Communications Services Tax (CST) Simplification Act in 2001, Florida TaxWatch has released several reports recommending that the Legislature reduce this burdensome and highly regressive tax on consumers. Florida’s CST is very high, relative to both other states and the sales tax on the purchase of other goods. This high rate makes the tax punitive and distortionary, and makes the state less competitive than other states, including the potential for reducing investment in broadband network infrastructure.

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