Washington DOR Updates Excise Tax Rates for Major, Specialized B&O Classifications

The Washington Department of Revenue July 1 issued updated business and occupation (B&O) tax rates, for excise tax purposes. The list includes updated rates for major B&O classifications and specialized B&O tax classifications. The updated rate for: 1) manufacturing and wholesaling is 0.00484; 2) retailing is 0.00471; 3) service & other activities is 0.015; and 4) service & other activities ($1 million or greater in prior year) is 0.0175. [Wash. Dep’t of Revenue, Business & Occupation Tax Classifications, 07/01/23]

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