Product leases credit of 33 percent

From the 2024 DOR Tax Exemption Study

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 policies of a person, whether through the ownership of voting shares, by contract, or otherwise. (b) "Consolidated financial institution group" means all financial institutions that are affiliated with each other. (c) "Consolidated financial statement" means a consolidated financial institution group's consolidated reports of condition and income filed with the federal financial institutions examination council, or successor agency. (d) "Financial institution" means: (i) Any corporation or other business entity chartered under Titles 30A , 30B , 31 , 32 , and 33 RCW, or registered under the federal bank holding company act of 1956, as amended, or registered as a savings and loan holding company under the federal national housing act, as amended; (ii) A national bank organized and existing as a national bank association pursuant to the provisions of the national bank act, 12 U.S.C. Sec. 21 et seq.; (iii) A savings association or federal savings bank as defined in the federal deposit insurance act