City of tumwater b o tax form 2025

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The document is a notice to taxpayers in Tumwater regarding the Business and Occupation Tax Return, outlining due dates for quarterly payments, tax classifications, and penalties for late submissions. It provides instructions on filing requirements, including the necessity to file even if gross sales are below $5,000. The document also details various business classifications and their corresponding tax rates.

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Click ‘Get Form’ to open the city of Tumwater B&O tax form in our editor.
Begin by entering the year at the top of the form. This is crucial for accurate record-keeping.
Select the appropriate quarter for your submission (Qtr.#1, Qtr.#2, Qtr.#3, or Qtr.#4) and note the due date.
Fill in your business classification by selecting from options such as Extracting, Manufacturing, Wholesale Sales, etc. Ensure you understand each category's definition to select correctly.
Input your total gross sales in the designated field. Remember, if your gross sales are less than $5,000.00, no tax is due but you must still file this return.
Calculate your tax due based on the applicable tax rate for your business classification and enter it in the provided space.
Complete any additional fields such as penalties if applicable and ensure all information is accurate before submission.
Finally, certify that all information is true and correct by signing and providing your title and contact information.

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What is the BO tax in Tumwater WA?

Local BO Tax The tax applies to the gross revenues of businesses at the rate of one-tenth of one percent, except those engaged in certain types of service industries (see TMC 5.08. 030(Q)) which shall pay at the rate of two-tenths of one percent.

What does BO stand for in taxes?

What is the business and occupation (BO) tax? The state BO tax is a gross receipts tax. It is measured on the value of products, gross proceeds of sale, or gross income of the business.

Who pays BO taxes?

Almost all businesses are subject to BO tax since its a tax on gross income and not just taxable sales. Washington has different classifications for BO business activities; the four main classifications are Retailing, Wholesaling, Manufacturing, and Services Other Activities.

Who is exempt from Washington BO tax?

Description: Sales of precious metals and monetized bullion are exempt from BO tax. However, dealers of such metals and bullion are subject to BO tax under the service classification on any commissions they receive for buying and selling precious metals on behalf of customers.

What is the BO tax in Poulsbo WA?

Effective July 1, 2024, the City of Poulsbo implemented a Business and Occupation (BO) tax. This tax will apply to the gross receipts measured on the value of products, proceeds of sales, or gross income of businesses. There will be no deductions for labor, materials, or other costs of doing business.

city of tumwater b o

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Who needs to pay BO tax in Washington state?

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. However, you may be entitled to the Multiple Activities Tax Credit (MATC). The MATC is also known as Schedule C.

Is Washington BO tax paid monthly or quarterly?

The state BO tax is reported on the Department of Revenues excise tax return. The department assigns a reporting frequency for filing returns based on estimated yearly tax due and type of business. A business will be required to report on a monthly, quarterly, or annual basis.

What is the tax rate in Tumwater, WA?

Tumwater sales tax details The minimum combined 2025 sales tax rate for Tumwater, Washington is 9.5%. This is the total of state, county, and city sales tax rates. The Washington sales tax rate is currently 6.5%.

City of tumwater b o tax form 2025

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What is the BO tax in Tumwater WA?

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Who needs to pay BO tax in Washington state?

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