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Council outlines timetable for B&O reform proposal to reach November ballot
Summary
Council members described a schedule for the business-and-occupation (B&O) tax reform proposal — increasing the exemption threshold and creating a deduction — including committee briefings, amendment deadlines and a potential August 4 full-council referral to meet King County ballot deadlines.
Council members described a compressed schedule to consider B&O tax relief legislation, commonly discussed as the Seattle Shield proposal, intended to raise the B&O exemption threshold and create a new deduction for many businesses. Council member Strauss said the proposal would raise the B&O tax threshold exemption from $100,000 to $2,000,000 in gross revenue and create a new B&O deduction up to…
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