Product leases credit of 33 percent

From the 2024 DOR Tax Exemption Study

PDF RCW 82.04.29004 Additional tax on financial institutions. (Effective October 1, 2025, until January 1, 2026.) (1)(a) From January 1, 2020, through September 30, 2025, in addition to any other taxes imposed under this chapter, an additional tax is imposed on specified financial institutions. The additional tax is equal to the gross income of the business taxable under RCW 82.04.290 (2) multiplied by the rate of 1.2 percent. (b) Beginning October 1, 2025, in addition to any other taxes imposed under this chapter, an additional tax is imposed on specified financial institutions. The additional tax is equal to the gross income of the business taxable under RCW 82.04.290 (2) multiplied by the rate of 1.5 percent. (2) The definitions in this subsection apply throughout this section unless the context clearly requires otherwise. (a) "Affiliated" means a person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person. For purposes of this subsection (2)(a), "control" means the possession, directly or indirectly, of more than 50 percent of the power to direct or cause the direction of the management and p