WA People
BILL · 2025–26 SESSION

HB 2045: Business and occupation tax

Investing in Washington families by restructuring the business and occupation tax on high grossing businesses and financial institutions.

Summary

  • Imposes an additional business and occupation (B&O) tax on certain businesses with an annual Washington income in excess of $250 million.
  • Increases the additional B&O tax on certain financial institutions to 1.9 percent.

From the House Bill Analysis 2025 (HB 2045), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedMar 24, 2025
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Joe Fitzgibbon (D-34)
Introduced
March 24, 2025 in the House
Last action
January 12, 2026
Budget
Has a fiscal note

AN ACT Relating to investing in Washington families by restructuring the business and occupation tax on high grossing businesses and financial institutions;

Sponsors

Prime sponsor: Joe Fitzgibbon (D-34)

19 co-sponsors (19 Democrats, 0 Republicans)

Lisa Parshley D-22Sharon Tomiko Santos D-37Strom Peterson D-21Mary Fosse D-38Gerry Pollet D-46Cindy Ryu D-32Timm Ormsby D-3Nicole Macri D-43Mia Gregerson D-33Liz Berry D-36Alex Ramel D-40Chipalo Street D-37Sharon Wylie D-49Beth Doglio D-22Darya Farivar D-46Julia Reed D-36Shaun Scott D-43Kristine Reeves D-30Natasha Hill D-3

Votes

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

History

  1. By resolution, reintroduced and retained in present status.
  2. First reading, referred to Finance.

HB 2045 in other sessions

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

Report wrong or missing information on this page