Dept. of Revenue publishes bi-annual tax update
This is my site Written by CPorterEsq on December 23, 2010 – 9:14 am

Washington Department of Revenue has just published its bi-annual Tax Facts – a helpful summary of changes to tax laws administered by the Department of Revenue. The latest edition highlights 2010 tax updates, information about filing your return, and other helpful tax tools and resources.

Following are a few noteworthy changes to Washington’s tax code:

  • This fall, voters passed Initiative 1107, repealing sales tax on candy, gum, and bottled water. The initiative also repealed the carbonated beverage tax and lowered the business and occupation (B&O) tax rate for manufacturers of perishable meat products. The changes went into effect on December 2, 2010.
  • Beginning June 1, 2010, certain out-of-state businesses offering professional services or earning income from loan interest, fees and royalties are now liable for B&O taxes on income derived from customers in Washington. Conversely, Washington-based businesses that provide services to out-of-state customers may pay less B&O tax through apportionment. If you are a multi-state business, check out the DOR’s helpful video tutorial to determine if the new law applies to you.
  • In the December 2010 special session, the Legislature approved a temporary amnesty program for penalties and interest on state B&O tax, state and local sales and use tax, and state public utility tax. Interested businesses must apply for the program by April 18, 2011 and make payments before May 1, 2011.
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