Peter Prickett, President of Council for Sound Tax Policy, has called for credit unions, especially the largest, to pay their fair share of the tax burden in Illinois.
Prickett stated that most consumers don't see any differences between banks and credit unions. Credit unions offer the same products and services as banks. And the largest Illinois credit unions tower over the majority of community banks they compete with.
In an opinion letter, Prickett pointed out that if the 16 largest Illinois credit unions had paid their fair share in 2018, this would have resulted in $20 million to $27 million in additional tax revenues to the state.
Prickett noted that 3 of Illinois largest credit union have bought naming rights to sports stadiums and signed exclusive sponsorship deals with sports teams, but paid nothing in income taxes.
Pricket wrote that "Illinois taxpayers should consider whether now is the time to ... end the antiquated income tax exemption for credit unions in Illinois."
Read the Op-Ed.
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Then I am presuming you are opposed to non-profit hospitals since they have an unfair advantage against legitimate tax paying hospitals. And non-profit hospitals should not be able to advertise or contribute back to their communities in ways that the public knows who supported the situation?
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