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Legislation watch
2018 House Bill 2940: Making the business and occupation tax more progressive
Introduced by Rep. Kristine Lytton (Anacortes) (D) on January 26, 2018
Referred to the House Finance Committee on January 26, 2018
Substitute offered in the House on February 5, 2018
Increases the business and occupation (B&O) tax filing threshold to $125,000, beginning January 1, 2020.
? Implements a B&O credit and B&O surcharge based on the calculation of a taxpayer's "margin", beginning January 1, 2020.
? Repeals the small business tax credit, effective January 1, 2020.
? Creates the Task Force on Business and Occupation Tax Fairness.
Referred to the House Appropriations Committee on February 6, 2018