Washington – High Technology Industry Tax Incentive To Expire

SALT Report 3507 – The Sales and Use Tax Deferral/Waiver for high technology businesses is set to expire January 1, 2015, with applications due by November 1, 2014.  The incentive is  “Limited to businesses conducting R&D and pilot scale manufacturing in the fields of:

  • Advanced computing
  • Advanced materials
  • Biotechnology
  • Electronic device technology
  • Environmental technology”

Qualifying activities include certain construction and equipment purchases for new and expanding businesses.  This B&O Tax Credit is availbe to qualifying businesses conducting research and development in the five fields listed above, within Washington.  Credit accrued from qualified purchases in 2014 must be claimed against taxes due for 2014, and the credit may be claimed on the following 2014 returns.

For Further Information:

WA DOR Tax Incentives

High Technology Sales and Use Tax Deferral/Waiver