Credit Union Challenges New York State Tax Requirements

Posted by Orb Staff on February 25, 2010 No Comments
Categories : Residential Mortgage

Hudson Valley Federal Credit Union will have its day in court to argue against the New York state tax requirement on credit union-originated mortgages.

The Poughkeepsie, N.Y.-based credit union will appear before the Supreme Court for New York County on March 25, when oral arguments are slated to begin. The Credit Union National Association and the Credit Union Association of New York have filed a joint amicus curiae brief in the case, in which the credit union is suing to have its home loans declared exempt from the state's mortgage recording tax. The state has sought to have the case dismissed.

SOURCE: Credit Union National Association

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