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Executive pay Photo: Shutterstock.

May 15, 2019 will become a new Tax Day for some of the nation’s largest federal and state credit unions. On that date, these credit unions, including some of the national industry organizations, leagues and associations, will be required to pay a 21% excise tax on executive pay that exceeds $1 million in total salary, bonuses, incentives and deferred compensation.

Peter Strozniak

Credit Union Times

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