Deduction
Endowment funds
B&O Tax deduction · RCW 82.04.4282(8) · enacted 1935
Details
- Citation
- RCW 82.04.4282(8)
- Study reference
- E1121-1
- Tax type
- B&O Tax
- Preference type
- Deduction
- Category
- Tax Base
- Year enacted
- 1935
- End date
- None scheduled
Fiscal impact (2024 study estimates)
- Revenue if repealed — local ($M)
- FY 2024: 0 · FY 2025: 0 · FY 2026: 0 · FY 2027: 0
- Revenue if repealed — state ($M)
- FY 2024: 0 · FY 2025: 0 · FY 2026: 0 · FY 2027: 0
- Taxpayer savings — local ($M)
- FY 2024: 0 · FY 2025: 0 · FY 2026: 0 · FY 2027: 0
- Taxpayer savings — state ($M)
- FY 2024: 0 · FY 2025: 0 · FY 2026: 0 · FY 2027: 0
CTI = confidential taxpayer information · D = unable to disclose
From the 2024 DOR Tax Exemption Study
82.04.4282(8) - Endowment funds Description Businesses may deduct income received from endowment funds. Purpose Recognizes that income received from endowment funds is not business income. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this deduction would not increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions Any amounts being claimed under this deduction are likely deductible under other statutes (e.g. donations/contributions or investment returns of non-financial businesses). There would be no revenue impact for this statute. Data Sources None Additional Additional Information Information Category: Tax base Year Enacted: 1935 Primary Beneficiaries: Organizations that receive endowment funds Taxpayer Count: 0 Program Inconsistency: None evident JLARC Review: Full review scheduled in 2023 2024 Tax Exemption Study Page 156
Does this apply to you?
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