The City of Issaquah levies and collects the Business and Occupation (B&O) tax. Businesses “engaging in business activities” within the City of Issaquah are required to obtain a Issaquah business license and pay the B&O tax whether or not a place of business is maintained within the city limit. Business licenses must be renewed every year.
Issaquah businesses are required to file the Business and Occupation Tax Returns on a quarterly basis, and pay the B&O tax with the returns. The returns are due on the last day of the next month after the period covered by the return. For example, tax returns covering the 4th quarter of 2011 are due on January 31, 2012.
The gross receipts B&O tax is based on gross receipts for the reporting period. The current tax rates range from 0.0800% to 0.1000% of taxable gross receipts, depending on the classifications.
Businesses with quarterly taxable gross receipts of $5,000 or less are exempt from paying the Issaquah B&O tax in 2012. However, such exempt businesses are still required to complete and file the returns by the applicable due dates.
As your CPAs, we would be happy to help you with your Issaquah tax filings. Call Huddleston Tax CPAs for an appointment with one of our experienced local Issaquah CPAs.
Visit our location page here: Issaquah CPAs and Tax Accountants.