2335 AMH .... H5336.1

HB 2335 - H AMD 1024 BEYOND SCOPE 2-27-98

By Representative

    On page 7, after line 3, insert the following:

    "NEW SECTION. Sec. 7.  A new section is added to chapter 82.04 RCW to read as follows:

    Notwithstanding the rates of taxation provided in RCW 82.04.240 through 82.04.290, inclusive, upon every person taxable under this chapter whose value of products, gross proceeds of sales, or gross income of the business from all business activities taxable under this chapter is less than one hundred fifty thousand dollars per tax year, as to such persons, the amount of tax with respect to such business shall be equal to the value of the products, gross proceeds of sales, or gross income of the business, multiplied by the rate of 0.138 percent."

    Renumber the remaining sections consecutively and correct any internal references and the title accordingly.

EFFECT:  Consolidates the tax rate on all small businesses grossing under $150,000 per year at 0.138%.

                            --- END ---