taxation[1]
Post on 20-Oct-2014
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TAXATIONCurrent Issues
2010 Tax LegislationRetail sales tax -Candy and gum sales tax exemption
repealed; B&O jobs credit -Bottled water exemption repealed -Reseller permit administration -Digital products taxation -Use of certain local sales tax -Public facilities district (PFD) multiple
jurisdiction
Retail sales tax (continued)
-Durable medical equipment, sales tax covered in purchases by insurance companies
-Wax and ceramic materials sales tax exemption
-City annexations and RTA -Cities and counties local excise tax provisions -Livestock nutrient exemption suspension -Corporate officer liability for tax debts -Bad debt deduction limitations
B&O tax -Temporary B&O tax increase -Economic nexus -Bonneville Power Administration payments to public
utility districts B&O tax exemption -Main Street Program transferred to Arch & Historic
Preservation -Direct sellers B&O tax exemption repealed -Property management salary exemption repeal -Processing meat, fruit, or vegetable tax preferences -Mortgage ruling -Corporate board of director fees -Vaccine association B&O tax exemption
Property tax
-Property tax exemption -County treasurers allowed to use electronic
billing and payment for property taxes and other fees
-Air ambulance aircraft property and aircraft excise tax exemption
-Community centers property tax exemption -Fire protection districts annexations -School levies
Incentives -Extension of expiring tax incentives -Aluminum smelter - continuation of tax incentives -Data center tax exemption -Tax incentives reports and surveys extension of
due dates -Renewable energy system cost recovery incentive -Alternative fuel vehicles sales tax exemption
extension -Distressed county sales and use tax deferral
program
Forest tax
-Timber purchase reporting requirements
-Forest tax – ministerial amendments
Miscellaneous -Carbonated beverage tax -Convention center -Cigarette and other tobacco products -Impact fees for high density urban
development allowed by local government -Subpoena power for Department of Revenue -Confidential taxpayer records – JLARC
access -Fire protection facilities impact fees -Unclaimed property locating fees
Misc. Cont’d -Lemon law extension -Vehicle license fraud -Intellectually disabled -Small business compliance -Funding distribution formulas for K-12 distribution -Water sewer districts – city taxes -Airport property authorized to lease at less than
fair market value -Consolidating management of state agencies’
technology
Misc. Cont’d -Gender references corrected -Community facilities districts -Public records requests available online -Public records requests available online -Estates and trusts -State and local tax administration –
improvements -Tax reporting survey provisions - creating
uniform reporting requirements -Tax avoidance
Misc. Cont’d -Enhanced 911 tax extended -Sea urchin and cucumber tax rates
changed -Temporarily increasing beer taxes -Working family tax credit -Public utilities district (PUD) privilege
tax clarification
INITIATIVE 1107 Repeals the temporary sales tax on
soda and bottled water, and would permanently extend the sales tax to candy and gum.
INITIATIVE 1098 Exempt every small business in
Washington from the B&O tax with a $4,800 business tax credit
Reduce the state portion of the property tax by 20 percent, saving typical homeowners $100 to $200 per year
Create a 5% tax on income over $200,000 singles/$400,000 couples, and 9% on income over $500,000 singles/$1 million couples)
I-1098 Cont’d Invest the net revenue, estimated at
over $2 billion per year in public education and health care
Impose strict accountability and transparency requirements.