Minimum to file PU tax return

From the 2024 DOR Tax Exemption Study

82.32.045(5)(b) - Minimum to file PU tax return Description A business is not required to file an excise tax return with the department if the business: - Has gross income subject to PU tax of less than $24,000 per year. - Has gross income subject to B&O tax of less than $125,000 per year. - Is not required to collect or pay sales tax to the department. - And is not required to collect or pay any other tax or fee to the department. Purpose To reduce administrative costs for taxpayers and department. Taxpayer ($ 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 exemption would not increase revenue. PU tax does not apply to a exemption business whose gross income, subject to PU tax, is less than $2,000 a month (RCW 82.16.040). Potential ($ 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 Tax savings are included under the impacts of the minimum income threshold - $2,000 per month exemption. Data Sources Department of Revenue, Excise tax data Additional Additi