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Call : 360.736.8065 E-mail : chad @ silveragency . com Download a rate card : www . awb . org / WaBusinessAds the collection of taxes on royalties .
• No new or increased taxes .
• No tax preferences / incentives closed .
• As passed by the Legislature , it met the four-year balanced budget requirement , however the governor ’ s line-item vetoes threw the four-year budget out of balance .
Gov . Jay Inslee vetoed a number of sections in the budget . While these vetoes left the current budget in balance , they resulted in an imbalance in the extended four-year budget .
ESHB 2988 budget stabilization account
Passed / AWB Supported
One of the central pieces throughout the 2016 budget discussion focused on the appropriate use of the Budget Stabilization Account . The account , commonly referred to as the “ Rainy Day Fund ,” was established in the state constitution in 2007 . These funds can only be used in the event of a declared emergency , an economic downturn , or by a supermajority ( threefifths ) vote of the House and Senate . AWB supported limited use of the funds for the purpose of covering costs associated with the historic 2015 wildfires , staving off earlier proposals that would have distributed the funds to various policy additions . The final version of Engrossed Substitute House Bill 2988 exclusively funded fire suppression costs and left a responsible level of reserve in the account .
ESHB 2540 / SB 6412 annual tax surveys and reports
Passed / AWB Supported
AWB strongly supported Engrossed Substitute House Bill 2540 , sponsored by Rep . Terry Nealey , R-Dayton . According to the underlying law , a taxpayer who qualifies for an economic developmentrelated tax preference is subject to a penalty of 100 percent of the tax preference claimed if they fail to submit the required survey or report . ESHB 2540 takes the penalty from the unreasonably high level of 100 percent down to 35 percent for the first time a taxpayer is assessed a penalty for failing to submit the survey or report , with an additional 15 percent penalty for failure to submit future surveys or reports for the same tax preference . This was a priority piece of legislation for AWB .
HB 2565 local sales & use tax changes
Passed / AWB Supported
House Bill 2565 has been a longstanding legislative objective for AWB , reducing the number of times local sales and use tax can be changed from four times a year to three times a year . Sponsored by Rep . Brandon Vick , R-Felida , the bill passed this year with unanimous votes in both the House and Senate . Under HB 2565 , local changes can only take place in January , April , and July . Previously changes could also take place in October . This bill represents a small but important step toward reducing the administrative burden on businesses , particularly small businesses , in Washington state .
EHB 2959 business tax and licenses
Passed / AWB Supported
The Chair of the House Finance Committee , Rep . Kristine Lytton , D-Anacortes , prime sponsored Engrossed House Bill 2959 . AWB strongly supported this policy , advancing it as a legislative objective . EHB 2959 establishes a Department of Revenue directed task force composed of representatives from cities and business to evaluate and recommend policy options to continue simplifying the administration of local business taxes and licensing . Navigating the labyrinth of the various
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