Get the free Washington State Combined Excise Tax Return - dor wa

This document is a tax return form used by businesses in Washington State to report and pay excise taxes. It includes sections for gross amounts, tax classifications, deductions, and totals for various

How to fill out washington state combined excise

How to fill out Washington State Combined Excise Tax Return

1. Obtain the Washington State Combined Excise Tax Return form from the Washington State Department of Revenue website.
2. Fill in your business information, including your name, address, and business registration number.
3. Mark the appropriate boxes to indicate the type of taxes you are reporting, such as retail sales tax, use tax, or B&O tax.
4. Calculate your gross income for the reporting period and enter it in the designated box.
5. Report any allowable deductions, exemptions, or credits on the form.
6. Calculate the total tax due based on your reported income and deductions.
7. Include any prepayments or credits you have already made towards this tax return.
8. Review the completed form for accuracy and sign it.
9. Submit the return by the due date either via mail or electronically through the Department of Revenue's online system.

Who needs Washington State Combined Excise Tax Return?

1. Any business operating in Washington State that sells products or provides services subject to sales tax, or that has a business and occupation (B&O) tax liability, is required to file the Washington State Combined Excise Tax Return.

People Also Ask about

Who is subject to excise tax in Washington state?

Washington's excise taxes apply to all business activities conducted in the state. Corporations, partnerships, sole proprietorships, joint ventures, nonprofit organizations, limited liability organizations, etc., conducting business in this state are all subject to these taxes, even if they do not have an office here.

What is the Washington combined excise tax return?

Washington LLC's can file the Washington Combined Excise Tax Return (which includes both Washington B&O Tax and Sales Tax) electronically after applying for a WA business license and registering with the Washington Department of Revenue (DOR).

Is Washington B&O the same as excise tax?

The B&O tax is reported and paid on the excise tax return or by electronic filing. If you are a new business, register with the Department of Revenue first. Once you are registered, you will receive information about filing.

What is a combined tax return?

A consolidated tax return is a corporate income tax return of an affiliated group of corporations that elect to report their combined tax liability on a single return. This tax return allows for corporations that run their business through many legal affiliates to be viewed as one single entity.

How much is WA state excise tax?

Graduated REET Structure effective Jan. 1, 2023 for the state portion of REET Sale price thresholdsTax rate $525,000 or less 1.10% $525,000.01 - $1,525,000 1.28% $1,525,000.01 - $3,025,000 2.75% $3,025,000.01 or more 3%

Why am I paying excise tax?

Excise tax is an indirect tax on specific goods, services and activities. Federal excise tax is usually imposed on the sale of things like fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, tobacco and other goods and services.

How do I submit excise tax?

Filing excise tax returns Complete Form 720, Quarterly Federal Excise Tax Return. File Form 720 electronically for immediate acknowledgement of receipt and faster service with an IRS-approved software provider.

Can you claim excise tax on your tax return?

Generally, excise taxes can't be deducted on your personal return. This includes things like fuel taxes and excise taxes paid to your city or state when you sell your home. However, some states and localities erroneously label excise taxes as personal property taxes, which may be deductible.

What is a combined excise tax return in Washington state?

Combined Excise Tax This return is used for reporting your business income, sales tax, and use tax. Monthly. Quarterly. Annual. Multi-Purpose.

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What is Washington State Combined Excise Tax Return?

The Washington State Combined Excise Tax Return is a tax form used by businesses to report and pay various state excise taxes, including retail sales tax, use tax, and business and occupation tax.

Who is required to file Washington State Combined Excise Tax Return?

Any business operating in Washington State that is subject to excise taxes is required to file the Combined Excise Tax Return. This includes businesses selling goods or services, as well as those with other business activities that generate income.

How to fill out Washington State Combined Excise Tax Return?

To fill out the Combined Excise Tax Return, businesses must gather financial information, including gross income, deductions, and taxes collected. The form must be completed by entering this information into the appropriate sections and then calculating total taxes owed or refunds due.

What is the purpose of Washington State Combined Excise Tax Return?

The purpose of the Washington State Combined Excise Tax Return is to simplify the filing process for businesses by allowing them to report multiple types of taxes on a single form, ensuring compliance and facilitating tax collection for the state.

What information must be reported on Washington State Combined Excise Tax Return?

The information that must be reported includes business identification details, total gross income, itemized deductions, specific tax calculations for retail sales, use, and business and occupation taxes, and any tax payments made during the reporting period.