SENATE BILL REPORT
SB 6654
As of December 16, 2020
Title: An act relating to providing that qualified dealer cash incentives paid to auto dealers are bona fide discounts for purposes of the business and occupation tax.
Brief Description: Providing that qualified dealer cash incentives paid to auto dealers are bona fide discounts for purposes of the business and occupation tax.
Sponsors: Senators Mullet and Wilson, L..
Brief History:
Committee Activity: Ways & Means: 2/20/20.
Brief Summary of Bill
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SENATE COMMITTEE ON WAYS & MEANS
Staff: Michele Alishahi (786-7433)
Background:

Business and Occupation Tax. Washington's major business tax is the business and occupation (B&O) tax. B&O tax is improsed on the gross receipts of business activities conducted within the state, without any deduction for the costs of doing business. Businesses must pay the B&O tax even if they do not make any profits or are operating at a loss. A taxpayer may have more than one B&O tax rate, depending on the types of activities conducted. Major B&O tax rates are 0.471 percent for retailing; 0.484 percent for manufacturing, wholesaling, and extracting; and 1.5 percent for services, and activities not classified elsewhere.
Summary of Bill: The bill as referred to committee not considered.
Summary of Bill (Proposed Substitute): This is the summary section.  Adding some words.
Appropriation: None.
Fiscal Note: Available.
Creates Committee/Commission/Task Force that includes Legislative members: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.