H-0725.1  _______________________________________________

                          HOUSE BILL 1218

          _______________________________________________

State of Washington      55th Legislature     1997 Regular Session

By Representatives Morris, Dunshee, Mielke, Blalock, Conway, Murray, Ogden, Cooper, Mason and Butler

Read first time 01/17/97.  Referred to Committee on Finance.

Reducing business and occupation taxes.

    AN ACT Relating to reducing business and occupation taxes; and adding a new section to chapter 82.04 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 82.04 RCW to read as follows:

    In addition to the credit offered in RCW 82.04.4451, in computing the tax imposed under RCW 82.04.255 and 82.04.290, a credit is allowed against the amount of tax otherwise due, as provided in this section.  The credit shall equal the lesser of (1) forty percent of the amount of tax otherwise due; or (2) two hundred ten dollars multiplied by the number of months in the reporting period, as determined under RCW 82.32.045.

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