484% for manufacturing and some other specific classifications. 484% $500,000 $2,420 Retail Sales 0.
Washington B&O Tax Rate By Business Type
484% $500,000 $2,420 Services 1. For example, businesses engaged in manufacturing and production benefit from a lower rate compared to those in the service sector.
Unlike a sales tax that is passed to the consumer, the B&O tax is considered a business expense, directly impacting a company's profitability. Several cities, including Seattle, impose their own business and occupation taxes, often at higher rates than the state level.
Washington B&O Tax Rate By Business Type
Retail and wholesale businesses also fall into a different category with its own corresponding rate. Instead of a broad-based corporate tax, the state relies heavily on the Business and Occupation tax, a gross receipts tax that applies to the total revenue of a business rather than its net profit.
More About Washington state business tax rate
Looking at Washington state business tax rate from another angle can help expand the discussion and give readers a second clear paragraph under the same section.
More perspective on Washington state business tax rate can make the topic easier to follow by connecting earlier points with a few simple takeaways.
