| Washington State House of Representatives Office of Program Research |
BILL ANALYSIS |
| Finance Committee | |
HB 1557
This analysis was prepared by non-partisan legislative staff for the use of legislative members in
their deliberations. This analysis is not a part of the legislation nor does it constitute a
statement of legislative intent.
Brief Description: Providing a business and occupation tax credit for the purchase of alternative power generation devices to operate gasoline service station pumps.
Sponsors: Representatives Rodne, Lovick, Haler, Springer, Strow, Sells, Jarrett, Hurst, Linville, Ormsby, Hudgins and Dunn.
Brief Summary of Bill |
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Hearing Date: 2/6/07
Staff: Rick Peterson (786-7150).
Background:
Washington's major business tax is the business and occupation (B&O) tax. The B&O tax is
imposed on the gross receipts of business activities conducted within the state, without any
deduction for the costs of doing business. Revenues are deposited in the State General Fund. A
business may have more than one B&O tax rate, depending on the types of activities conducted.
There are a number of different rates. The main rates are: 0.471 percent for retailing; 0.484
percent for manufacturing, wholesaling, and extracting; and 1.5 percent for professional and
personal services, and activities not classified elsewhere.
Summary of Bill:
A B&O tax credit is allowed for gasoline service stations equal to 50 percent of the cost for an
electrical generator. The credit cannot exceed $15,000.
Appropriation: None.
Fiscal Note: Available.
Effective Date: The bill takes effect on August 1, 2007.