Washington Business & Occupation Tax (WBO)
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Washington Business & Occupation Tax (WBO) Effective June 1, 2010, WA State passed into law “Economic Nexus”, which means out-of-state companies are taxed when they receive a benefit (income) from a WA State business. WA B&O is a tax assessed on gross receipts generated from WFO contracts (.018) & royalties (.00484) received from businesses located within the State of Washington. (UW, WSU, PNNL, etc) Gross Receipts = Costs, since we do not profit (over collect) on WFO contracts. WBO is the burden code utilized to capture the costing activity on WFO contracts. Royalties will we handled outside the burdening process. Only apply WBO on project ids that the WFO Contract is with a business located within the State of Washington. Any questions or concerns, please contact Yvonne Deshayes, at
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Washington Business & Occupation Tax (WBO). Effective June 1, 2010, WA State passed into law “Economic Nexus”, which means out-of-state companies are taxed when they receive a benefit (income) from a WA State business. - PowerPoint PPT Presentation
Transcript of Washington Business & Occupation Tax (WBO)
Washington Business & Occupation Tax (WBO)
Effective June 1, 2010, WA State passed into law “Economic Nexus”, which means out-of-state companies are taxed when they receive a benefit (income) from a WA State business.
WA B&O is a tax assessed on gross receipts generated from WFO contracts (.018) & royalties (.00484) received from businesses located within the State of Washington. (UW, WSU, PNNL, etc)
Gross Receipts = Costs, since we do not profit (over collect) on WFO contracts.
WBO is the burden code utilized to capture the costing activity on WFO contracts. Royalties will we handled outside the burdening process.
Only apply WBO on project ids that the WFO Contract is with a business located within the State of Washington.
Any questions or concerns, please contact Yvonne Deshayes, at Extension 6280 or [email protected]
