Washington DOR Amends Excise Tax Regulation on REET Exemption for Family Corporations, Partnerships

The Washington Department of Revenue June 23 amended an excise tax regulation concerning an exemption from real estate excise tax related to mere changes in identity or form of ownership for family corporations and partnerships. The rule includes a measure making technical changes to update a statutory reference to the Washington Nonprofit Corporation Act. The regulation takes effect July 24. [Wash. Dep’t of Revenue, Reg. Section 458-61A-211, 06/23/22 Wash. St. Reg. 22-14-013]

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