Washington: New Reporting Requirements for Semiconductor Material Manufacturers
- Aug 12, 2014 | Gail Cole
Semiconductor material manufacturers in Washington State claiming the B&O tax rate must file an Annual Tax Incentive Report. Those manufacturers claiming sales and use tax exemptions on the purchase of gases and chemicals must file an Annual Tax Incentive Survey.
But effective June 12, 2014, a manufacturer claiming both the B&O tax preferential rate and the sales tax exemption on the purchase of gases and chemicals is required to file only the Annual Tax Incentive Report. The 2014 Annual Tax Incentive Report is due by April 30, 2015.
Those manufacturers wishing to claim either the sales and use tax exemption or B&O tax preferential rate for 2014 are now required to file either the Annual Tax Incentive Survey or the Annual Tax Incentive Report, respectively—not both. The form is due by April 30, 2015.
Additional buyer’s reporting requirements are required for buyers claiming the sales tax exemption on purchases of certain gases and chemicals.
Additional filing information is available on the Washington Department of Revenue special notice for semiconductor materials manufacturers.