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Farm Credit Services Defends Tax Status

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Farm Credit Services Defends Tax Status

Bankers are meeting with local governments across South Dakota, asking them to support federal changes in tax law to bring credit unions and Farm Credit Services more in line with what commercial banks are paying.

Ken Keegen, vice president for Farm Credit Services of America in Omaha, says they are watching the presentations carefully…

 

Keegen says the farm credit system pays taxes based on their original charter…

 

Commercial bankers say the state is could be missing out on thirty million dollars in taxes.

Keegen says they believe they return dollars more directly to the economy…

 

Congress has so far been uninterested in taking up that type of tax reform.

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