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What is WA business excise tax?

The tax amount is based on the value of the manufactured products or by-products. The Manufacturing BO tax rate is 0.484 percent (0.00484) of your gross receipts. For products manufactured and sold in Washington, a business owner is subject to both the Manufacturing BO Tax and the Wholesaling or Retailing BO Tax.

Is Washington excise tax the same as sales tax?

Use tax is paid directly to the state using the use tax lines of the excise tax return or the use tax form. The local use tax rates are the same as the retail sales tax rates.

Is Washington state excise tax deductible?

An excise tax isnt deductible if its for a personal expense. You can deduct as a business expense excise taxes that are ordinary and necessary expenses of carrying on your trade or business. Excise tax paid to your state and local for sale of home would not be business related so not deductible.

How much is excise tax in Washington state?

Washington state levies a real estate excise tax (REET) on all property sales. This state tax rate is 1.28% of a propertys full selling price.

What is excise tax for Washington state?

Washington state levies a real estate excise tax (REET) on all property sales. This state tax rate is 1.28% of a propertys full selling price.

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