The Department of Revenue has cancelled the following Excise Tax Advisory effective April 11, 2001.
ETA 459.04.146 Interest Received on Direct Obligations of the Federal Government. This document notes that WAC 458-20-146 National and state banks, mutual savings banks, savings and loan associations and other financial institutions, explains that a deduction is available for interest received on direct obligations of the federal government. ETA 459 then provides a limited list of federal agencies/instrumentalities. This list is in part incorrect (e.g., the Federal Home Loan Bank and Bank for Cooperatives are no longer federal agencies or instrumentalities). There is also no need for the department to maintain a partial list of federal agencies and/or instrumentalities as information necessary to identify federal agencies/instrumentalities is available via the Internet.
Questions regarding the cancellation of this advisory may be directed to Alan R. Lynn, Legislation and Policy, P.O. Box 47467, Olympia, WA 98504-7467, phone (360) 570-6125, fax (360) 664-0693, Internet email@example.com.