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LATHAM, N.Y.-A new bill (S.7126) introduced by State Sen. Hugh Farley (R-Adirondack) and currently before the Senate Banks Committee could save New York’s 34 state-chartered credit unions roughly $2 million per year by repealing the 8.25% sales tax credit unions pay for purchases. This is according to Amy Kramer, vice president of governmental affairs for the New York State Credit Union League. “We want to make sure that the state charter is as attractive an option as the federal charter,” Kramer said. “This is a creative approach to alleviating state charters of this burden.”

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