Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee briefed on B&O and public utility taxes, financial‑institution surcharges and revenue concentration
Summary
Staff explained that the B&O and public utility taxes together account for about 23% of near‑general‑fund revenues in the 2023–25 biennium, described the B&O rate structure and recent surcharges, and noted a small share of taxpayers contribute a large share of collections.
Alia Kennedy and Tianyi Lan presented the committee with details on Washington’s Business and Occupation (B&O) tax, the public utility tax, and more recent surcharges that affect specific industries.
Kennedy described the B&O tax as a gross‑receipts tax with default classification rates; most businesses fall into retailing, wholesaling, manufacturing, or service categories. Staff said the service classification…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
