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LenderHub

SWBC's LenderHub blog is a one-stop resource for lenders.

 

Don’t Be Caught Unprepared for the New Excise Tax

As you may have heard, there’s a new tax that affects tax-exempt entities, including credit unions. In response to complaints from taxed corporations that tax-exempt organizations are enjoying preferential treatment, the 2017 Tax Act included a 21% excise tax on compensation exceeding $1 million paid to specific employees of tax-exempt organizations.

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