Federal Financial Institution Exemption


Purchases made by federally chartered credit unions and federal agencies are exempt from sales and use tax. However, employee purchases are taxable even if reimbursed by the federal government.

Examples of agencies that qualify for the exemption:

  • Agricultural Credit Association
  • Banks for Cooperatives
  • Commodity Credit Corporation
  • Export-Import Bank
  • Farm Credit Bank
  • Farm Security Administration
  • Farmers Home Administration
  • Farmers Home Corporation
  • Federal Credit Union
  • Federal Deposit Insurance Corporation
  • Federal Farm Mortgage Corporation
  • Federal Home Loan Bank
  • Federal Land Bank Association
  • Federal Land Credit Association
  • Federal National Mortgage Association
  • Federal Reserve Bank
  • Federal Savings and Loan Insurance Corporation
  • Government National Mortgage Association
  • National Bank for Cooperatives
  • Production Credit Association
  • Reconstruction Finance Corporation