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SENATE
BILL 5523
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Passed
Legislature - 2002 Regular Session
State of Washington 57th
Legislature 2001 Regular Session
By
Read first time 01/25/2001.
Referred to Committee on Ways & Means.
Authorizing
an offset for certain overpayments of tax concerning leased equipment.
AN
ACT Relating to overpayments of tax concerning leased equipment when a remedy
to refund the overpayment no longer exists under the nonclaim statute; and
adding a new section to chapter 82.32 RCW.
BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF WASHINGTON:
NEW
SECTION. Sec. 1. A
new section is added to chapter 82.32 RCW to read as follows:
In addition to the procedure set forth in RCW 82.32.060 and as an
exception to the four-year period explicitly set forth in RCW 82.32.060, an
offset for a tax that has been paid in excess of that properly due may be taken
under the following conditions: (1) The tax paid in excess of that properly
due was sales tax paid on the purchase of property acquired for leasing; (2)
the taxpayer was at the time of purchase entitled to purchase the property at
wholesale under RCW 82.04.060; and (3) the taxpayer substantiates that sales
tax was paid at the time of purchase and that there was no intervening use of
the equipment by the taxpayer. The offset is applied to and reduced by the
amount of retail sales tax otherwise due from the beginning of lease of the
property until the offset is extinguished.
