Every purchaser of more than 200,000 board feet of privately owned timber in a voluntary sale must report the purchase to the Department of Revenue (Department) on or before the last day of the month in which the purchase took place.  The Department may assess a penalty of $250 if a purchaser fails to report the required information.  

The purchaser must report information related to the value of the purchase including:
•    the name, address, and contact information of both the purchaser and seller;
•    the sale date and termination date in the sale agreement;
•    the total sale price;
•    the legal description of sale area and, if applicable, the sale name;
•    the forest practice application or harvest permit number if available;
•    the total acreage involved in sale;
•    the estimated net volume of timber purchased by tree species and log grade; and
•    the description and value of property improvements such as land clearing, reforestation, or road improvements.

Information gathered in the timber purchase reports is used by the Department to establish stumpage value tables, which are prepared for each species of tree that is commercially harvested in Washington and indicate the amount that each species would sell for at a voluntary sale made in the ordinary course of business.  Timber harvesters must pay a 5 percent excise tax on any timber harvested.  Stumpage value tables are used to calculate the excise tax amount due from each timber harvester.  

The timber purchase reporting requirement expires on July 1, 2021.

The expiration date for the timber purchase reporting requirement is changed from July 1, 2021, to September 30, 2025.