Hello there,
The post below gives the most stripped-down basics for filing WA state taxes. If you’d like to read more detailed posts, and see some screenshots, click on these links: for Service Providers and Retail / Combo.
Also, I want to share this GOOD NEWS right upfront. Once you know what you’re doing, this business chore only takes 5 - 20 minutes. It will take way longer to learn about it, than to actually do them….
:) Jenny Girl Friday
Due for you IF:
You have a WA state Business License
Estimated Time:
5 - 10 minutes - Filing
0.5 - 2 hours - Prepping
How:
Online with MYDOR
Due Dates:
Businesses are assigned annually, quarterly, or monthly
Annual Due Date
• April 15
Quarterly Due Dates
• Apr 30
• Jul 31
• Oct 31
• Jan 31
The Tax Form is called:
Combined Excise Tax Return
What everybody will need:
__ MyDOR / SAW - Log-in and Password
__ Gross Sales Total - per time period
Annual Filers
• From January 1 - December 31
Quarterly Filers
• Q1 - January 1 - March 31
• Q2 - April 1 - June 30
• Q3 - July 1 - September 30
• Q4 - October 1 - October 31
Some of you:
__ Subtotals of Gross Sales by Category
And, if you Retail, you may need:
__ Retail Sales Subtotal
__ Retail Sales out-of-state
__ Retail Sales where Tax is collected by a "Facilitator"
__ Sales Tax Paid at the Source
Types of Tax:
B&O (Business & Occupation Tax)
Sales Tax
Use Tax
Note: These are all types of “Excise” tax. That is why the form is called “Combined Excise Tax Return” because it’s asking about all three - and some others - in one, combined form.
B&O Tax: small businesses will receive a tax credit. So, if you gross under about $55K, you will not have to pay any tax. As your income goes up above that number, the tax credit will get smaller, then disappear
Sales Tax: applies to selling products or retail services
Use Tax: applies if your business purchased items/tools outside of WA state