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WAC 19404 Financial institutions-Income apportionment
SOURCE DOCUMENT DETER. NO DATE OF ISSUE DESCRIPTION
WAC: 458-20-19404   10/31/13 Financial institutions - Income apportionment;
  458-20-19404   06/12/12 Financial institutions -- Income apportionment

Part I of Chapter 23, 2010 Laws 1st Special Session (2ESSB 6143) changed the apportionment and nexus requirements for apportionable activities, effective June 1, 2010. The Department has adopted the following emergency rules to explain how these requirements apply:

WAC 458-20-19402 (Rule 19402) Single factor receipts apportionment – Generally
WAC 458-20-19403 (Rule 19403) Single factor receipts apportionment – Royalties
WAC 458-20-19404 (Rule 19404) Financial institutions – Income apportionment
  458-20-19404   09/14/12 Financial institutions-Income apportionment

Effective June 1, 2010, chapter 23, Laws of 2010 1st sp. sess. changed Washington's method of apportioning certain gross income from engaging in business as a financial institution.  RCW 82.04.460 requires to based on the Model regulation for the apportionment of income of financial institutions adopted by the Multistate Tax Commission (MTC).

The Department had previously adopted emergency rules while it worked with stakeholders to develop a permanent WAC 458-20-19404 (Rule 19404) Financial institutions – Income apportionment to explain the implications of this legislation for financial institutions.  The Department is at this time adopting a permanent Rule 19404 to address how such gross income must be apportioned when a financial institution engages in business both within and outside the state.

  458-20-19404   01/13/12 Financial institutions -- Income apportionment Part I of Chapter 23, 2010 Laws 1st Special Session (2ESSB 6143) changed the apportionment and nexus requirements for apportionable activities, effective June 1, 2010. The Department has adopted the following emergency rules
to explain how these requirements apply:

WAC 458-20-19402 (Rule 19402) Single factor receipts apportionment – Generally
WAC 458-20-19403 (Rule 19403) Single factor receipts apportionment – Royalties
WAC 458-20-19404 (Rule 19404) Financial institutions – Income apportionment
  458-20-19404   10/03/11 Part I of Chapter 23, 2010 Laws 1st Special Session (2ESSB 6143) changed the apportionment and nexus requirements for apportionable activities, effective June 1, 2010. The Department has adopted the following emergency rules to explain how these requirements apply:

WAC 458-20-19402 (Rule 19402) Single factor receipts apportionment – Generally
WAC 458-20-19403 (Rule 19403) Single factor receipts apportionment – Royalties
WAC 458-20-19404 (Rule 19404) Financial institutions – Income apportionment
  458-20-19404   05/27/11 458-20-19404 Financial institutions - Income apportionment
Part I of Chapter 23, 2010 Laws 1st Special Session (2ESSB 6143) changed the apportionment and nexus requirements for apportionable activities, effective June 1, 2010.  The Department has adopted the following emergency rule to explain how these requirements apply:

WAC 458-20-19404 (Rule 19404) Financial institutions – Income apportionment 
Changes from the previous emergency rule filed January 28, 2011 under WSR 11-04-068 were made as follows: 

Rule 19404 – Changes to same language as proposed final rule.  These changes include formatting, clarifying language, and additional details.
  458-20-19404   01/28/11
Financial institutions-Income apportionment.
Part I of Chapter 23, 2010 Laws 1st Special Session (2ESSB 6143) changed the apportionment and nexus requirements for apportionable activities, effective June 1, 2010.  The Department has adopted the following emergency rules to explain how these requirements apply:

WAC 458-20-19401 (Rule 19401) Minimum nexus thresholds for apportionable activities
WAC 458-20-19402  (Rule 19402) Single factor receipts apportionment – Generally
WAC 458-20-19403  (Rule 19403) Single factor receipts apportionment – Royalties
WAC 458-20-19404 (Rule 19404) Financial institutions – Income apportionment 
Changes from the previous emergency rules filed October 1, 2010 under WSR 10-20-104 were made in the following subsections: 

Rule 19401 – No changes
Rule 19402 –Subsection (5) Attribution of income
Rule 19403 - Subsection (5) How are royalty receipts attributed to Washington
Rule 19404 – No changes
  458-20-19404   10/01/2010 WAC 458-20-19404 Financial institutions – Income apportionment – This rule addresses how gross income from engaging in business as a financial institution is apportioned when the financial institution engages in business both within and outside the state.

Part I of Chapter 23, 2010 Laws 1st Special Session (2ESSB 6143) changed the apportionment and nexus requirements for apportionable activities, effective June 1, 2010.  The Department has adopted the following emergency rules to explain how these requirements apply.
         
RCW:        
         
ETA:        
         
INDUSTRY GUIDES:      
         
SPECIAL NOTICES:      
Subject Title Reference:      
Economic Nexus     05/28/2010 New "Economic Nexus" in Washington State May Impact "Foreign Corporations"
Economic Nexus     05/28/2010 New "Economic Nexus" in Washington State May Impact Financial Institutions Including Out-of-state Banks and Credit Card Issuers
Economic Nexus     05/28/2010 New Apportionment Method
Economic Nexus     05/28/2010 Tax Attorneys and CPAs New "Economic Nexus" in Washington State May Impact Your Clients
Economic Nexus     05/28/2010 Registered Out-of-state Businesses Currently not Reporting Income from Service Activities - New Apportionment for Certain Income
Economic Nexus     09/10/2010 B&O Tax Reporting Requirement Continues After Business Activity Stops (Trailing Nexus)
         
         
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