INTERPRETIVE STATEMENT
The Department of Revenue has cancelled the following excise tax advisory (ETA):
574.08.198 Financial Institutions Incurring Bad Debts on Contract Assignments. This advisory explains the department's position regarding contract assignments and retail sales tax bad debt credits as a result of the decision of the Washington State Supreme Court in Puget Sound National Bank v. Department of Revenue, 123.Wn2d 284, 868 P.2d 127 (1994). This advisory is being cancelled because the information was incorporated consistent with recent statutory amendments in the recent revision of WAC 458-20-196 Bad debts, which became effective February 27, 2005.
A copy of this document is available via the internet at http://www.dor.wa.gov/content/laws/eta/eta.aspx, or a request for copies may be directed to Roseanna Hodson, Interpretations and Technical Advice Unit, P.O. Box 47453, Olympia, WA 98504-7453, phone (360) 570-6119, fax (360) 586-5543.
Alan R. Lynn
Rules Coordinator