Original Content
A 1.2% tax applies to gross income generated from such transactions, meaning there are no deductions for labor and materials, to deals submitted for regulatory approval after Jan. 1, 2026.
Washington state credit unions buying banks face new tax
AI Summary
A 1.2% tax applies to gross income generated from transactions where Washington state credit unions buy banks, effective for deals submitted after Jan. 1, 2026; no deductions are allowed.
Texas Relevance
The article specifically mentions Washington state and does not reference Texas or any Texas-specific entities.