The Washington State Department of Revenue has recently taken action on the following Rules and Interpretive Statements:
June 08, 2023
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Link for Interpretive Statement Proposals: Draft Excise Tax Advisories
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Title
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ETA 3076
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Deductibility of Interest Received on Investments or Loans Primarily Secured by First Mortgages or Trust Deeds on Nontransient Residential Properties
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Link for Rule Proposals: Rules Agenda
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Title
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WAC 458-20-XXX
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Excise Tax on Capital Gains
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WAC 458-20-23801
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Watercraft excise tax – Watercraft depreciation schedule.
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WAC 458-29A-200
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Leasehold excise tax – Taxable rent and contract rent
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Link for Recent Adoptions and Repeals: Recent Adoptions and Repeals
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Title
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ETA 3238.2023
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Interest Received on Direct Obligations of the Federal Government
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EXCISE TAX ADVISORIES (ETA) DRAFT
ETA 3076 Deductibility of Interest Received on Investments or Loans Primarily Secured by First Mortgages or Trust Deeds on Nontransient Residential Properties - This Excise Tax Advisory (ETA) is to provide guidance on the business and occupation (B&O) tax deduction for interest received on loans or investments secured by a first mortgage or deed of trust. The ETA has been updated to include information on the limitation in RCW 82.04.29005, and additional updates and examples.
Planned stakeholder meetings None at this time.
Public comment period The Department has posted a revised draft of this ETA. The Department requests comments and stakeholder feedback related to this draft ETA no later than June 22, 2023. After a review of the feedback, if any, the Department will consider the appropriate next steps in the issuance process.
General questions and/or how to make a public comment If you wish to make a public comment about this ETA, or for general questions regarding this draft ETA, you can email your comments and questions to Jason Andre at JasonA@dor.wa.gov. Any written comments received will be retained as part of the official Tax Advisory file.
RULE PREPROPOSAL (CR-101) - Excise Tax
WAC 458-20-XXX – Excise Tax on Capital Gains
Why this Rule is being Proposed (CR-101) for Adoption
Effective January 1, 2022, Chapter 82.87 RCW imposes an excise tax on sales or exchanges of long-term capital assets. This rulemaking will seek to provide clarifying information, such as definitions, and additional information on exemptions, deductions, and allocation of gains. The Department plans to share a preliminary rule draft before the public meeting.
Public Meeting date, time, and location for this Rule:
Date: July 12, 2023; Time: 10:00 A.M.
Microsoft Teams meeting
Join on your computer or mobile app
Click here to join the meeting
Meeting ID: 245 136 028 487
Passcode: NhCMPu
Download Teams | Join on the web
Or call in (audio only)
+1 564-999-2000,,845286915# United States, Olympia
Phone Conference ID: 845 286 915#
Find a local number
Comments for this Rule must be sent to:
Michael Hwang
Department of Revenue
PO Box 47453
Olympia, Washington 98504
Email: MichaelHw@dor.wa.gov
RULE PREPROPOSAL (CR-101) - Excise Tax
WAC 458-20-23801 – Watercraft excise tax – Watercraft depreciation schedule.
Why this Rule is being Proposed (CR-101) for Adoption
RCW 82.49.040 requires the Department of Revenue to prepare a depreciation schedule (at minimum annually) for use in the determination of fair market value for watercrafts, which is the basis for measuring the watercraft excise tax. The purpose of this rulemaking effort is to evaluate the watercraft depreciation table values in WAC 458-20-23801. The Department will propose amendments to the watercraft depreciation schedule if watercraft valuation, sales, and registration data indicates an adjustment to a table value(s) is necessary, as required by RCW 82.49.040. The Department will also solicit comments and feedback from external stakeholders regarding the proposed watercraft depreciation schedule.
Public Meeting date, time, and location for this Rule:
Date: July 18, 2023; Time: 10:00 A.M.
Microsoft Teams meeting
Join on your computer or mobile app
Click here to join the meeting
Meeting ID: 225 547 429 066
Passcode: bJpoCq
Download Teams | Join on the web
Or call in (audio only)
+1 564-999-2000,,346349790# United States, Olympia
Phone Conference ID: 346 349 790#
Find a local number
Comments for this Rule must be sent to:
Ryan Becklean
Department of Revenue
PO Box 47453
Olympia, Washington 98504
Email: RyanBe@dor.wa.gov
RULE PROPOSAL (CR-102) - Excise Tax
WAC 458-29A-200 - Leasehold excise tax—Taxable rent and contract rent.
Why this Rule is being Proposed (CR-102) for Adoption
The Department intends to modify WAC 458-29A-200 to clarify the amount of contract rent subject to leasehold excise tax when the rent includes payment for both the leasehold interest as well as a concession or other right. The Department has also made changes to enhance the readability of the rule.
The Department is extending the comment period for this rule proposal.
Written comments are now due by July 10, 2023.
EXCISE TAX ADVISORIES (ETA) ISSUANCE
ETA 3238.2023 Interest Received on Direct Obligations of the Federal Government
Why this ETA was Issued
This ETA provides information about the B&O tax deduction under RCW 82.04.4286 for interest received on direct obligations of the Federal government. The ETA includes examples of what the Department has concluded are direct obligations of the Federal government.
View more information on this ETA and other ETAs
See the Department’s website at: http://dor.wa.gov/content/FindALawOrRule/ETA/default.aspx
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