The value of refinery fuel gas is based on the average of the most recent 36 months of the “Henry Hub” natural gas spot prices, as published by the federal Energy Information Administration (EIA). The 36-month average value is calculated and published by the Department of Revenue on a quarterly basis.
No. Unlike many states with income taxes, Washington’s business and occupation (B&O) tax does not generally align with federal income tax rules, including income deferrals.
Income that your business earns from hedge fund management services that you are allowed to defer under federal income tax rules is generally subject to B&O tax when your business receives or accrues the income.
Leasehold excise tax (LET) may apply when a street obstruction permit or other permit to use public property (use permit) is issued by a public entity, such as a city or county, to a private party. Use permits could be called:
Originally effective Sept. 1, 2015 through March 13, 2019, Washington adopted a click-through presumption of nexus standard for both retailing B&O tax and retail sales tax purposes.
Licensed out-of-state dealers with nexus in Washington are required to collect sales tax and pay retailing B&O tax on retail sales of firearms into Washington. Nexus may be established by a physical presence or by exceeding $100,000 in Washington receipts.
Alarm monitoring involves people using computers, software, and telecommunications to monitor homes and businesses for break-ins, fires, and other unexpected events. Alarm monitoring may involve a combination of automation and human effort.
Sometimes, alarm monitoring is called home or business security, home or business monitoring, or security systems. Regardless of the name, this type of service is generally subject to retailing business and occupation (B&O) tax and retail sales tax.
The following is a brief summary of the tax-related bills passed by the Legislature and signed into law by Gov. Inslee during the 2019 legislative session.
The following is a brief summary of the tax-related bills passed by the Legislature and signed into law by Gov. Inslee during the 2020 legislative session.
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