Source: https://app.leg.wa.gov/RCW/default.aspx?cite=82.04.4451
Timestamp: 2020-01-28 00:55:19
Document Index: 81787749

Matched Legal Cases: ['§ 1102', '§ 2', '§ 1', '§ 1', '§ 5', '§ 1', '§ 6']

RCW 82.04.4451: Credit against tax due—Maximum credit—Table.
RCWs > Title 82 > Chapter 82.04 > Section 82.04.4451
82.04.440 << 82.04.4451 >> 82.04.44525
RCW 82.04.4451
(1) In computing the tax imposed under this chapter, a credit is allowed against the amount of tax otherwise due under this chapter, as provided in this section. Except for taxpayers that report at least fifty percent of their taxable amount under RCW 82.04.255, 82.04.290(2)(a), and 82.04.285, the maximum credit for a taxpayer for a reporting period is thirty-five dollars multiplied by the number of months in the reporting period, as determined under RCW 82.32.045. For a taxpayer that reports at least fifty percent of its taxable amount under RCW 82.04.255, 82.04.290(2)(a), and 82.04.285, the maximum credit for a reporting period is seventy dollars multiplied by the number of months in the reporting period, as determined under RCW 82.32.045.
[ 2010 1st sp.s. c 23 § 1102; 1997 c 238 § 2; 1994 sp.s. c 2 § 1.]
Findings—Intent—1997 c 238: "The legislature finds that many businesses have difficulty applying the small business credit under RCW 82.04.4451. Further, the legislature appreciates the valuable time and resources small businesses expend on calculating the amount of credit based upon a statutory formula. For the purpose of tax simplification, it is the intent of this act to direct the department of revenue to create a schedule, in standard increments, to replace required calculations for the small business credit. Each taxpayer can make reference to the taxpayer's tax range on the schedule and find the amount of the taxpayer's small business credit. Further, no taxpayer will owe a greater amount of tax nor will any taxpayer be responsible for a greater amount of taxes otherwise due." [ 1997 c 238 § 1.]
Effective date—1994 sp.s. c 2: "This act shall take effect on July 1, 1994." [ 1994 sp.s. c 2 § 5.]
Application to reporting periods—1994 sp.s. c 2 § 1: "Section 1 of this act applies to the entire period of reporting periods ending after July 1, 1994." [ 1994 sp.s. c 2 § 6.]