Don't Lose Your Washington State Tax Incentives!
Several Washington State tax credits, rate reductions and tax deferrals have annual reports or annual surveys that businesses must file yearly. Failure to file the necessary surveys can cause the incentives to be denied and the additional tax assessed, along with related interest.
Changes incorporated during the 2010 legislative session means these annual surveys and annual reports are now due April 30th for the prior calendar year. Many must be filed online through the Department of Revenue's website. While not an exhaustive list, the following are the most common incentives that require filing:
- Rural County Sale/Use tax deferral for manufacturing facilities (closed to new applications)
- High Unemployment County Sales/Use tax deferral for manufacturing facilities
- High Technology B&O credit and High Technology Sales/Use tax deferral
- Biotechnology and Medical Device Manufacturing Sales/Use tax deferral
- Aerospace reduced rate and credit for pre-production expenditures
- Timber Extracting and Manufacturing reduced rate
- Food Processing/Manufacturing B&O tax exemptions and Sales/Use tax deferral
- Solar Energy Systems manufacturers reduced B&O rate
If you have any questions about these annual filings or whether you may qualify for any of these incentives, please contact Chris Laine at (425) 289-7609 or firstname.lastname@example.org.