Topic: Public Deposits
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State Public Deposit Guarantee Fund coverage has increased
NEWS: Recently, we alerted credit unions that a League-supported financial institution modernization bill had been signed into law. Our Courier had a long list of changes to various statutes, so you may have […]
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DOR: Schedule CU-1 Credit Union Net Income (IC-180) (2016) – (Search DOR site for more recent instructions!)
2016 IC-180 Instructions for 2016 Schedule CU-1
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NCUA: Legal Opinion Letter No. 08-0718 – Share Insurance Coverage – Section 529 College Savings Plans (August 2008).
Wisconsin 529 College Savings Program (EdVest) deposits in credit unions are insured as a government accounts because the Wisconsin College Savings Board qualifies as a public entity.
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DOR: Schedule CU-1 – Credit Union Net Income (IC-080) (2018)
This form is for credit unions that act as a public depository must file this schedule, along with the Corporation Franchise or Income Tax Return (Form 4 or 6).
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DOR: Credit Union Declaration of Exempt Status [Form CU – 2018]
Credit unions which are exempt from the Wisconsin franchise or income tax under the provisions of Ch. 71, Wis. Stats., should file Form CU instead of filing a Wisconsin corporation […]
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DOR: Bad Debt Deduction Allowable to Credit Unions, Wisconsin Tax Bulletin #72, pp. 6-9 (electronic pp 1-4).
This Wisconsin Dept. of Revenue “Tax Release” outlines when credit unions may use the “reserve method” instead of the “specific charge-off method” of deducting bad debts on the Wisconsin Corporate […]
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DFI: Public Deposit Guarantee Account balance
($64,725,453.07, as of 9/30/2018) The link is located on the page under “Other Information.”
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Wis. Admin. Code: Tax 2.49 Apportionment of apportionable income of interstate financial institutions.
Income taxation, returns, records and gross income Tax 2.49 Apportionment of apportionable income of interstate financial institutions.
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0134 Public Deposits
This release describes the rules applicable to accepting deposits from state or local governmental units or agencies.