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Iowa banks and credit unions in tax battle over franchise rates
The Senate bill would raise both banks and credit unions to a 2 percent franchise tax on the first 7.5 million of annual profit and 4 percent thereafter. Proponents say equal footing is needed as large credit unions expand, while opponents warn of higher costs for 600,000 Iowa credit union members.
MENTIONED IN THIS ARTICLE
Jeff Disterhoff
UICCU
Iowa
Senate
Randy Feenstra
Hull
Feenstra
Ways and Means Committee
Department of Revenue
Sorensen
Bankers Trust
Uni- Jeffversity
Disterhoft
Des Moines
Iowa Credit Union League
Perspec
Tive
Iowa Credit Union
Justin Hopfer
Justin Hupfer
Iowa Credit
Union League
Hupfer
Disterhoff
Iowa House
House
Kim Reynolds
Reynolds
Brenna Smith
Guy Vander Linden
Roskaloosa
Vander Linden