Rep. Vicki Kraft’s bill to ease tax return thresholds for small businesses unanimously approved by House

The state House of Representatives unanimously approved a bill Wednesday that would change the current exemption threshold for business and occupation (B&O) tax filing.

Rep. Vicki Kraft, R-Vancouver, sponsored the bill that looks to reduce the amount of annual gross income a business needs to report to the Washington Department of Revenue (DOR). The lawmaker says the change will reduce financial and administrative burdens on smaller companies as they work to grow their businesses.

“This is a simple, yet impactful, solution,” said Kraft. “The measure eases tax return thresholds. This will help small business owners keep more of their money longer. It gives them an opportunity to re-invest in their business, expand their productivity and ultimately, helps them to create jobs.”

Kraft's bill increases the B&O tax gross receipts filing threshold to $58,000 for service businesses and $35,000 for all other businesses. The measure also increases the public utility tax gross receipts filing threshold to $30,000.

House Bill 2350 now heads to the Senate for further review.


Washington State House Republican Communications