A competitive tax rate.
Through tax incentives, deferrals, credits and offsets targeted to specific high growth industries, Washington State offers highly successful businesses a competitive advantage few states can offer.
Washington does not have a corporate income tax. Instead, a Business & Occupation (B&O) tax is calculated on the gross income from activities. This means there are no deductions from the B&O tax for labor, materials, taxes, or other costs of doing business. The more profitable a company becomes, the more profits it keeps since the rate is based on gross, not net income.
The state’s overall taxation is relatively low compared to other states:
| Washington | National Average | |
| Unemployment Insurance | .6 – 5.84% | 0 – 15.09% |
| Worker’s Comp Index Rate | 2.11% | 1.01 – 3.01% |
| Corporate Income Tax | 0 | 15 – 35% |
| Sales Tax | 6.5% | 0 – 7.5% |
| Average Property Tax (as % of income) | 2.91% |
For more information on investment opportunities in Washington State, contact a member of our Business Development team.