Nonprofit character building leases

From the 2024 DOR Tax Exemption Study

(Effective January 1, 2026) PDF WAC 458-20-23801 Watercraft excise tax — Watercraft depreciation schedule. (1) Introduction. This rule addresses the watercraft excise tax, including an overview of the tax, exemptions from the tax, and the watercraft depreciation schedule used to determine a watercraft's fair market value. The rule also addresses administrative issues including payment, interest, and penalties. (2) Examples. This rule includes examples that identify a number of facts and then state a conclusion. These examples should only be used as a general guide. The tax results of other situations must be determined after a review of all the facts and circumstances. (3) Definitions and terms. The following definitions and terms apply throughout this rule. (a) "Dealer" means a person, partnership, association, or corporation engaged in the business of selling vessels at wholesale or retail in this state. RCW 88.02.310 . (b) "Fair market value." (i) In cases where the most recent purchase price of a vessel is known to the vessel owner, "fair market value" means the purchase price of the vessel in the year it was purchased. For subsequent years, "fair market value" means