The Department anticipates issuing a new Excise Tax Advisory (ETA) titled Taxability of Shared Loss Payments from FDIC. This ETA addresses the taxation of shared loss payments received by a bank from the Federal Deposit Insurance Corporation (FDIC). For the purpose of this ETA, a shared loss payment is a payment from the FDIC to a bank, pursuant to a loss share agreement entered into in a purchase and assumption transaction, based on the FDIC’s obligation under the agreement to guarantee losses incurred on the acquired assets.
ETA 3XXX.20XX Taxability of Shared Loss Payments from FDIC
Related statutes and rules
See WAC 458-20-146, WAC 458-20-14601, WAC 458-20-19404
Planned stakeholder meetings
None at this time.
Public comment period
The Department requests comments and stakeholder feedback related to this ETA no later than November 22, 2017. After a review of the feedback, if any, the Department will consider the appropriate next steps in the issuance process.
How to make a public comment
If you wish to make a public comment or have general questions about this ETA, contact Matthew Largent at email@example.com.
Any written comments received will be retained as part of the official Tax Advisory file.