Concerning investing in Washington families by improving the fairness of the state's excise tax system by narrowing or eliminating tax preferences, imposing a business and occupation tax surcharge while eliminating tax liability for small businesses, enacting an excise tax on capital gains, modifying the real estate excise tax, making administrative changes, and implementing marketplace fairness in Washington (Lytton, Jinkins, Macri)

Addresses the state's tax system with regard to:
(1)Capital gains taxes;
(2) Business and occupation tax rate change and deduction;
(3) Eliminating the sales and use tax exemption for bottled water;
(4) Repealing the preferential business and occupation tax rate for warehousing and reselling prescription drugs;
(5) Narrowing a use tax exemption for self-produced fuel;
(6) Eliminating the preferential business and occupation tax rate for international investment management services;
(7) Nonresident sales tax exemption remittances;
(8) Graduated real estate excise tax rates;
(9) Real estate excise tax on foreclosures;
(10) Requiring local governments that issue building permits to supply subcontractor information to the department of revenue;
(11) Remote sellers, referrers, and marketplace facilitators;
(12) The expansion of an individual's liability for an entity's unpaid tax obligations;
(13) Reducing interest on tax refunds; and
(14) Transfers to the education legacy trust account.

Hearing Date: Tuesday, January 31, 2017 -- 4:00 pm

WA State Legislature Link:    (opens a new browser tab)