Washington Appeals Court Guts B&O Tax Deduction for Investment Income
The Washington Supreme Court is considering a petition for discretionary review of a court of appeals decision with significant implications for investors, investment funds, and the business community.
Most Washington investors and investment funds do not pay business and occupation (B&O) tax on their investment income because of a statutory deduction for "amounts derived from investments."
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Before proceeding, please note: If you are not a current client of Perkins Coie, please do not include any information in this e-mail that you or someone else considers to be of a confidential or secret nature. Perkins Coie has no duty to keep confidential any of the information you provide. Neither the transmission nor receipt of your information is considered a request for legal advice, securing or retaining a lawyer. An attorney-client relationship with Perkins Coie or any lawyer at Perkins Coie is not established until and unless Perkins Coie agrees to such a relationship as memorialized in a separate writing.