Tax Structure
The State of Washington has no corporate or personal income tax
- The State of Washington does have a Business and Occupation (B&O) Sales Tax, which is measured on the value of products, gross proceeds of sale, or gross income of the business. The rate of he B&O Sales Tax varies by sector and is as low as 0.00471 for retailing up to 0.015 for services.
- Some incentives offered from the State of Washington to firms include:
- B&O Tax Credit for Washington Customized Employment Training Program
- This incentive is available to all Washington employers. Through payments to the Employment Training Finance Account through the Customized Employment Training Program for customized employee training, employers can receive a credit equal to 50% of the Employment Training Finance Account.
- A variety of industry-specific tax incentives that focus on B&O Sales Tax deductions.
- B&O Tax Credit for Washington Customized Employment Training Program
Learn more about City taxes
Greater Seattle Partners
GSP represents and promotes the economic development and trade activities for the greater Seattle region. This region is home to diverse sectors and excels at creating industries of the future. From aerospace and technology to agriculture and life sciences, our region boasts global industry leaders and cutting-edge institutions. In partnership with the public and private sectors, Greater Seattle Partners drives investment and quality jobs into the region to create and sustain opportunity and prosperity for all.
