CERTIFICATION OF ENROLLMENT

SENATE BILL 5523

Chapter 57, Laws of 2002

57th Legislature

2002 Regular Session

TAX OVERPAYMENT--LEASED EQUIPMENT

EFFECTIVE DATE: 6/13/02

Passed by the Senate February 6, 2002

YEAS 44 NAYS 0

BRAD OWEN

President of the Senate

Passed by the House March 7, 2002

YEAS 94 NAYS 0

CERTIFICATE

I, Tony M. Cook, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SENATE BILL 5523 as passed by the Senate and the House of Representatives on the dates hereon set forth.

FRANK CHOPP

Speaker of the

House of Representatives

TONY M. COOK

Secretary

Approved March 21, 2002

FILED

March 21, 2002 - 2:05 p.m.

GARY LOCKE

Governor of the State of Washington

Secretary of State

State of Washington

_______________________________________________

SENATE BILL 5523

_______________________________________________

Passed Legislature - 2002 Regular Session

State of Washington 57th Legislature 2001 Regular Session

By Senators Horn, Rossi and Snyder

Read first time 01/25/2001. Referred to Committee on Ways & Means.

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.