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>Isn't the general argument that state taxes mean almost nothing to businesses like Boeing, Microsoft, Amazon, et al (in Washington State) but are actually a hu
by almost_usual 8y ago
>Isn't the general argument that state taxes mean almost nothing to businesses like Boeing, Microsoft, Amazon, et al (in Washington State) but are actually a huge pain in the ass for small/mid-size businesses?
"The bill proposes increasing the state business and occupation tax by 20 percent on about 40 categories of technical services, such as telecom, engineering, medical and finance. And by 33 percent on tech firms with more than $25 billion in annual revenue.
But here’s where this goes off the charts, into politically unheard-of territory. It mandates a top rate, a whopping 67 percent business tax increase, for those “advanced computing businesses” with “worldwide gross revenue of more than one hundred billion dollars” per year."
Not sure if you read more than the headline but I don't think this bill targets small/mid-size businesses.
- anth_anm 8y agoThat's true, but what is the rate now? If it's going from 3% to 5% that's not as bad as 10 to 17 or whatever.
- linuxhiker 8y agoThe B&0 tax is off the top based on gross revenue generated in Washington state. For my small company, 5% would put me out of business. I don't recall the exact rate we pay but it's nowhere near five.