Kraft bill seeking B&O filing relief passes House

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One of state Rep. Vicki Kraft’s pushes for 2018 has made its way to the Senate as the state House of Representatives unanimously approved a bill Feb. 14 that would change the current exemption threshold for business and occupation (B&O) tax filing, a release from the Washington state House Republicans stated last week.

Kraft, R-Vancouver, sponsored House Bill 2350 that looks to reduce the amount of annual gross income a business needs to report to the Washington Department of Revenue. The lawmaker says the change will reduce financial and administrative burdens on smaller companies as they work to grow their businesses.

Kraft’s bill increases the B&O tax gross receipts filing threshold to $58,000 for service businesses and $35,000 for all other businesses, the release stated. The measure also increases the public utility tax gross receipts filing threshold to $30,000.



“This is a simple, yet impactful, solution,” Kraft stated in the release. “The measure eases tax return thresholds. This will help small business owners keep more of their money longer. It gives them an opportunity to re-invest in their business, expand their productivity and ultimately, helps them to create jobs.”

—The Reflector