WA People
BILL · 2013–14 SESSION

SB 5042: B&O tax deduction/investment

Narrowing the business and occupation tax deduction for investment and related income.

Summary

  • Nonfinancial businesses may deduct no more than $1 million per calendar year for income related to investments, dividends from the capital account by a parent from its subsidiary entities, and interest from loans between subsidiary and parent entities.

From the Senate Bill Report (Orig.) (SB 5042), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 15, 2013
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Bob Hasegawa (D-11)
Introduced
January 15, 2013 in the Senate
Last action
January 13, 2014
Budget
Has a fiscal note

AN ACT Relating to narrowing the business and occupation tax deduction for investment and related income;

Sponsors

Prime sponsor: Bob Hasegawa (D-11)

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. First reading, referred to Ways & Means.

SB 5042 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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