FAQs - Financial Institutions Tax

Who is not subject to the FIT?

  • Diversified savings and loan holding companies,
  • Grandfathered unitary savings and loan holding companies,
  • Institutions organized under the "Federal Farm Loan Act" or a successor of such an institution,
  • Insurance companies,
  • Captive finance companies,
  • Credit unions, and
  • Institutions organized exclusively for charitable purposes.