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Deadlines Looming for Washington B&O Tax Annual Reconciliation

September 28, 2018 | By | No Comments

Does your business engage in apportionable business activities in Washington?

If the answer is yes, your business is required to file an Annual Reconciliation of Apportionable Income. The deadline to file is October 31, 2018. Your business must file with the Washington State Department of Revenue regardless of whether or not an adjustment to the tax amounts reported throughout the year is required.

The Department will assess penalties and interest, in addition to any tax due, if you fail to timely file.

Apportionable business activities include only the activities subject to B&O classifications such as (but not limited to):

Service and Other ActivitiesResearch and Development Performed by Nonprofit Corporations or Associations
RoyaltiesGambling Contests of Chance (less than $50,000 a year)
Travel Agents Commission/Tour OperatorsInternational Investment Management Services
Insurance Producers; Title Insurance Agents; Surplus Line BrokersLicensed boarding homes
Public or Nonprofit HospitalsPrinting or Publishing
Real Estate Brokers

For a full list of the B&O tax, classifications visit the department website.

Below are two ways to file:

  1. You may file your annual reconciliation utilizing the Department of Revenue’s online services if you file your Washington state excise tax returns electronically, or
  2. You can download and mail the Department of Revenue’s form, Annual Reconciliation of Apportionable Income, which is available at dor.wa.gov and mail it

If any additional tax is due, payment may be made either by electronic funds transfer (EFT) or check. Credits will be handled in the same manner.

October 31, 2018, is approaching quickly so make sure to file your Annual Reconciliation of Apportionable Income to avoid any penalties or interest!

If you have any questions, Delap advisors have an 85-year history of offering trusted and reliable state and local tax services to the state of Oregon. With offices in both Lake Oswego and Portland, we’re convenient to get to as well. Please contact our Delap team today by email or call 503-697-4118.

Here are some state and local tax articles fresh off the Delap LLP press:

IRS Response to State Workarounds | September 2018
Supreme Court Ruling on Sales Tax | June 2018
Navigating the New Oregon Transit Tax | May 2018
Change in Oregon Apportionment Could Mean Lower State Tax for Service Companies | March 2018
Opportunity with Risk: Is it Possible to Save or Stall the Loss of the State Tax Deduction? | December 2017