Lawmakers propose lowering B&O tax for some rural manufacturers

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 state’s major business tax, according to committee documents. The tax is imposed against a company’s gross income and does not deduct the cost of doing business.

“As folks know … the drawbacks to expanding our rural economy is just access to capital, and ca...