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Huddleston Tax CPAs | Accounting Firm In Seattle

Huddleston Tax CPAs | Accounting Firm In Seattle

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Seattle B&O Taxes FAQ

Does Seattle collect B&O tax? Yes. 

Will I need to buy a business license if my office isn’t in Seattle? Yes, if you engage in business activities within the city, you must get a business license and pay the B&O tax. 

How long is a business license valid for? Until December 31st of each calendar year and must be renewed every year.

When do I need to file? On a quarterly basis, unless assigned a monthly or annual reporting period. You are assigned this by the city.

How much is the B&O tax? The gross receipts are based on the reporting period. The current tax rates range from 0.2150% to 0.484% of taxable gross receipts, depending on the classifications.

What about the square footage B&O tax? The square footage B&O tax applies to businesses that maintain a business location within Seattle and conduct out-of-city business activities. The square footage B&O tax is based on rentable square feet.  The current tax rates are $0.39 per square foot per quarter for “business floor space” and $0.13 per square foot per quarter for “other floor space.”

Businesses whose locations are outside of Seattle are exempt and do not report or pay any square footage B&O tax. Meanwhile businesses located in Seattle that conduct all of its business activities within Seattle are entitled to claim a 100% credit and do not pay any square footage B&O tax.

Are any businesses exempt? Businesses with annual taxable gross receipts of less than $100,000, as well as businesses that conduct no taxable business activities, are exempt in 2012 and pay neither the gross receipts B&O tax nor the square footage B&O tax.  However, such exempt businesses are still required to complete and file the returns by the applicable due dates.

You can visit our Seattle meeting location page to schedule an appointment.

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City B&O Tax Guide Contents:

  1. Bellevue
  2. Bothell
  3. Issaquah
  4. Kirkland
  5. Lynnwood
  6. Mercer Island
  7. Mill Creek
  8. Redmond
  9. Renton
  10. Seattle
  11. Woodinville

Contact

18208 66th Ave Ne, Ste 102
Kenmore, WA 98028
(425) 483-6600

Meeting Locations

Bellevue | Bothell | Issaquah
Kenmore | Kirkland
Seattle | University District
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