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6 mar 2022 · Senate Bill 5873 has passed both houses of the legislature and will provide a reduction in the unemployment taxes on small business. The bill reduces the social tax component of unemployment taxes from 0.75% to 0.50%. In 2023, the maximum social tax is reduced from 0.80% to 0.70%.
9 mar 2022 · Revised for 1st Substitute: Providing substantial and permanent tax relief for small businesses to mitigate structural deficiencies in Washington's business and occupation tax and lessen long-term negative economic consequences of the pandemic that have disproportionately impacted small businesses. Revised for Engrossed: Providing substantial ...
Brief Summary of Bill. Provides a $250,000 property tax homestead exemption for the state property tax. Reduces the business and occupation tax rate on manufacturing activities to 0.00 percent. Repeals the capital gains tax. Repeals the long-term services and supports trust program.
10 mar 2022 · Washington SB5980 2022-2023 Providing substantial and permanent tax relief for small businesses to mitigate structural deficiencies in Washington's business and occupation tax and lessen long-term negative economic consequences of the pandemic that have disproportionately impacted small businesses.
Exempts the business and occupation small business tax credit from the requirements of a tax preference performance statement, a Joint Legislative Audit and Review study, and an automatic expiration. The amendment passed by voice vote in the House on March 9, 2022
1 mar 2022 · Senate Bill 5980 would eliminate the business and occupancy tax for businesses that make less than $125,000 in gross receipts.
1 kwi 2022 · By exempting firms with up to $125,000 in gross receipts from the Business & Occupations Tax (B&O), and expanding the Small Business Tax Credit to those enterprises earning nearly $250,000 annually, Senate Bill 5980 will provide welcome relief for some 276,000 small businesses.
