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> But businesses only pay taxes on their profit. Except in Washington State.
by DubiousPusher 6y ago
> But businesses only pay taxes on their profit.
Except in Washington State.
- entangledqubit 6y agoAre you referring to the B&O taxes (seems to be based on industry) or are there others around as well? I could imagine some reasonable arguments for having a low tax like that around.
- gamblor956 6y agoAnd Hawaii. See the general excise tax. Fun fact: it's a recursive tax on business revenue (not profit), so if you gross up prices to pass along the tax to customers on a transactional basis, you also need to pay GET on the gross up, ad infinitum. For example, on Oahu this results in a final grossup of approximately 4.7120% (starting from a base GET of 4.5%).