Vystar Credit Union is a $4.9 billion in assets credit union headquartered in Jacksonville, Florida. The credit union reported net income (profits) of almost $50.2 million and paid NO corporate income taxes.
Credit union people who use the counter argument of sub chapter S are a funny lot. They don't know how stupid Cuna makes them sound. Instead of looking into whether it's true or not, they simply repeat it, I guess that why there is the phrase, "parroting the party line". Could explain it but what's the point. Anonymous want a cracker??
and your point is?
ReplyDeleteThey seem to qualify to be a tax free SubChapter S Bank.
ReplyDeleteI would not object to them being taxes like a pass through entity. The members would be responsible for the taxes on the undistributed profits.
ReplyDeleteCredit union people who use the counter argument of sub chapter S are a funny lot.
DeleteThey don't know how stupid Cuna makes them sound.
Instead of looking into whether it's true or not, they simply repeat it, I guess that why there is the phrase, "parroting the party line".
Could explain it but what's the point.
Anonymous want a cracker??