Washington Department of Revenue Revises Policy Regarding Business and Occupation Tax Exemption for Fruit and Vegetable Processors

SEATTLE, Dec. 1, 2011 /PRNewswire/ -- The Washington Department of Revenue ("Department") recently announced that it was changing its policy regarding a Business and Occupation ("B&O") tax exemption for fruit or vegetable processors. The law provides a B&O tax exemption for the value of fresh fruits or vegetables processed by a manufacturer by canning, preserving, freezing, processing, or dehydrating in Washington and sold at wholesale to customers outside of Washington.

(Logo: http://photos.prnewswire.com/prnh/20110726/DA41187LOGO)

The Department's previous policy required that the end product be a fruit or vegetable. The revised policy only requires that processing begins with fresh fruit or vegetables and the end product be either food or animal feed. Businesses may qualify for refunds if they paid manufacturing B&O tax on qualifying processed products or wholesaling B&O tax on sales of qualifying processed products transported out of state.

In addition, the policy revision is retroactive and applies to B&O taxes paid for periods within the four-year look-back period. Refund requests must be submitted by December 31, 2011. The Department also requires taxpayers to electronically file annual incentive surveys for previous periods. Surveys for 2007 forward are due April 30, 2012.

Ryan is an award-winning global tax services firm, with the largest indirect tax practice in North America and the seventh largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. In 2010, Ryan received the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 900 professionals and associates serves over 6,500 clients in 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at www.ryan.com.

SOURCE Ryan

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED