Financial institution affiliate income

From the 2024 DOR Tax Exemption Study

PDF RCW 82.04.299 Workforce education investment surcharge (as amended by 2025 c 420) . (Effective January 1, 2026.) (1)(a) Beginning with business activities occurring on or after April 1, 2020, in addition to the taxes imposed under RCW 82.04.290 (2), a workforce education investment surcharge is imposed on select advanced computing businesses. (( The )) (i) Beginning April 1, 2020, through December 31, 2025, the surcharge is equal to the gross income of the business subject to the tax under RCW 82.04.290 (2), multiplied by the rate of 1.22 percent. (ii) Beginning January 1, 2026, the surcharge is equal to the gross income of the business subject to the tax under RCW 82.04.290 (2), multiplied by the rate of 7.5 percent. (b) Except as provided in (e) of this subsection (1), in no case will the combined surcharge imposed under this subsection (1) paid by all members of an affiliated group be more than (( nine million dollars )) $75,000,000 annually. (c) For persons subject to the surcharge imposed under this subsection (1) that report under one or more tax classifications, the surcharge applies only to business activities taxed under RCW 82.04.290 (2). (d) The surcharge imposed und