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Office Closure: Beginning July 2, the Delap office will close for an interior remodel. The remodel project has been in the works for months and will include an updated reception area as well as new and improved conference rooms. The project is scheduled to last a few months, with the office anticipated to reopen sometime around the holidays. We will continue to assist our clients with their accounting and advisory needs during the remodel, and we appreciate your patience and understanding during this renovation process.
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, 2019. 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):
For a full list of the B&O tax, classifications visit the department website.
Here 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. 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, 2019, is approaching quickly so make sure to file your "Annual Reconciliation of Apportionable Income" to avoid any penalties or interest!
Note: Effective January 1, 2020, the economic nexus threshold is reduced to $100,000 of combined gross receipts per calendar year.