University-managed hospital in King County

From the 2024 DOR Tax Exemption Study

82.04.301 - University-managed hospital in King County Description Certain hospitals are exempt from B&O tax. To qualify for the exemption, each hospital must be owned by a county with a population greater than two million and managed by a state university. The exemption expires January 1, 2030. Purpose To lower taxes on hospitals. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes CTI CTI CTI CTI Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 CTI CTI CTI Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions This exemption impacts fewer than three taxpayers; any impacts are confidential. Data Sources Department of Revenue, Excise tax data Additional Additional Information Information Category: Business Year Enacted: 2019 Primary Beneficiaries: Qualifying hospital managed by state university Taxpayer Count: Fewer than three Program Inconsistency: None evident JLARC Review: No review completed 2024 Tax Exemption Study Page 68