Does Renton collect B&O tax? No, but businesses are required to obtain a license and pay the fees, however. The fee schedule is based on number of full time equivalent employees (FTE). It includes corporate officers, partners and family members — paid or unpaid.
As a result, Renton fosters a great deal of business growth and makes it a hub for high-tech entrepreneurs in the Puget Sound region. Moreover, there are many business ventures that are subject to myriad exemptions in Renton specifically. Adult family homes, insurance companies, ride-sharing, mortgage brokers, and child care resources are all companies that are entitled to exemptions.
Additionally, there’s a thriving workforce with many technically trained college students looking for work. Not to mention, if you’re anticipating a lot of travel, Renton is one of the few locations that’s easily accessible by sea, air, and interstate; getting people in and out is easy.
To work with one of our CPAs nearby, visit our location page here.