1 / 1

Washington Business & Occupation Tax (WBO)

Washington Business & Occupation Tax (WBO). Effective June 1, 2010, WA State passed into law “Economic Nexus”, which means out-of-state companies are taxed when they receive a benefit (income) from a WA State business.

audra-knowles
Download Presentation

Washington Business & Occupation Tax (WBO)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Washington Business & Occupation Tax (WBO) • Effective June 1, 2010, WA State passed into law “Economic Nexus”, which means out-of-state companies are taxed when they receive a benefit (income) from a WA State business. • WA B&O is a tax assessed on gross receipts generated from WFO contracts (.018) & royalties (.00484) received from businesses located within the State of Washington. (UW, WSU, PNNL, etc) • Gross Receipts = Costs, since we do not profit (over collect) on WFO contracts. • WBO is the burden code utilized to capture the costing activity on WFO contracts. Royalties will we handled outside the burdening process. • Only apply WBO on project ids that the WFO Contract is with a business located within the State of Washington. • Any questions or concerns, please contact Yvonne Deshayes, at Extension 6280 or ymdeshayes@lbl.gov

More Related