WSR 24-14-073

INTERPRETIVE STATEMENT

DEPARTMENT OF REVENUE

[Filed June 28, 2024, 9:31 a.m.]

The department of revenue has issued the following excise tax advisory (ETA): ETA 3144.2024 Taxability of Mortgage Escrow Receipts.

This ETA explains the taxability of funds collected and deposited by escrow accounts by mortgage lenders or servicers to pay the insurance and tax obligations of mortgagees. Previously issued on February 2, 2009, this ETA has been reissued to clarify the legal basis and requirements for excluding these receipts from a taxpayer's gross income.

A copy of this document is available via the internet at Excise Tax Advisories.

Chelsea Brenegan

ETA and Engagement Manager