Lawmakers propose lowering B&O tax for some rural manufacturers
B&O rate for printers of materials other than newspapers would be lower through 2056
Last updated 2/7/2019 at 5:12pm
A bipartisan bill introduced in the Rural Development, Agriculture & Natural Resources Committee would reduce the business and occupation tax for manufacturers and publishers of printed materials and periodicals, excluding newspapers. It would also extend the preferential B&O tax rate for timber and woods products.
The B&O tax is Washington stateâ€™s major business tax, according to committee documents. The tax is imposed against a companyâ€™s gross income and does not deduct the cost of doing business.
â€œAs folks know â€¦ the drawbacks to expanding our rural economy is just access to capi...