WA DoR Combined Excise Tax Return 2022 free printable template

MAIL TO:Washington State Department of Revenue PO Box 47464 Olympia WA 985047464November 2022 Combined Excise Tax Returno11 22If you had no business activity, check the box and mail this return (unless

How to fill out WA DoR Combined Excise Tax Return

How to fill out WA DoR Combined Excise Tax Return

1. Obtain the WA DoR Combined Excise Tax Return form from the Washington Department of Revenue website.
2. Fill in your business information, including name, address, and registration number.
3. Determine the appropriate tax classification(s) for your business activities.
4. Input gross income figures for each classification in the designated sections of the form.
5. Calculate the tax due based on the rates provided for each classification.
6. Deduct any applicable credits or pre-payments from the total tax due.
7. Complete the signature section, certifying that the information provided is accurate.
8. Submit the completed form either online through the Department of Revenue portal or via mail by the due date.

Who needs WA DoR Combined Excise Tax Return?

1. Any business entity or individual operating in Washington state that earns gross income from activities subject to excise tax.
2. Businesses engaged in retail sales, wholesaling, or providing services that require reporting under Washington's tax laws.
3. Those who are registered for an excise tax account with the Washington Department of Revenue.

Instructions and Help about WA DoR Combined Excise Tax Return

Hello ladies and gentlemen my name is Raymond, and today we're going to go over how to file a general excise g45 tax return for the state of Hawaii, and today we're going to be using actual revenue first as the last video I did which was a zero return very simple this one not so much but still not too hard either so let's go ahead and get to the Excel file here where we can pool our revenue and deductions for one deduction I should say so here we have the revenue for Oahu Maui and Hawaii this month Kauai didn't generate any revenue, so first I'm going to go over how to file for one County, and then we're going to jump into it and start filing the actual return which is for all three counties for the sake of this example today I'm going to use my GE number for my company and my company's name anytime you have a sublease deduction you're going to need this information for the other entity or entities involved okay to get started we'll go back to the sign-in page here and get right into it as you can see here we have the G 45 and the G 49 g49 is the annual we won't have to do that until just before April 20th with holding HW 14 and HW 3 these are both payroll functions we won't be going into those either today so let's jump into G 45 here as you see here there's the red triangle that means it's ready to file yeah we'll click Next on this screen and as I said before we will start with just one district the district of Oahu we know there's going to be an exemption, so we'll go yes here next we didn't have any wholesaling activities for any of our business this month, so we're not going to enter anything into these fields but if you do have whole selling items this is where it'll go, so this is only charged 05 rate versus the 4 or 425 to 45 depending on which island you're doing business with all right so here we go the income we have today is all rental income so the example I'm going to use here for Oahu we're going to use this top line here which is before the deduction as you can see here this is the total after the deduction, so we're going to get that three hundred and sixty-nine thousand and change, and we're going to put it in this field, and then we're going to put the deduction here now when I click out of this sale you're going to see this number here change and what you're going to see it do is you're going to see a subtract just like the 295 542 that we see in this cell the calculation this is important to note if you're going to do multiple islands it will not calculate the same way, and I'm going to show you so let's go ahead and hit previous after I click on these two it will delete the information I've already entered so click Next Soho selling activity as mentioned earlier here you will see the three islands are now blank for Maui and the Island of Hawaii it'll be pretty straightforward let's go ahead get that information and just because it is simple now for Oahu as I mentioned there is a difference so when we go back to excel here...

People Also Ask about

What is the Washington excise tax?

Graduated REET Structure Sale price thresholdsTax rate$500,000 or less1.10%$500,000.01 - $1,500,0001.28%$1,500,000.01 - $3,000,0002.75%$3,000,000.01 or more3%

What is the WA excise tax return?

This return is used for reporting your business income, sales tax, and use tax. Monthly. Quarterly.

Do I have to pay WA excise tax?

All sales of real property in the state are subject to REET unless a specific exemption is claimed. The seller of the property typically pays the real estate excise tax, although the buyer is liable for the tax if it is not paid.

Are Washington B&O taxes deductible?

Washington's 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.

What are excise returns?

Excise taxes are taxes that are imposed on various goods, services and activities. Such taxes may be imposed on the manufacturer, retailer or consumer, depending on the specific tax. Form 720, Quarterly Federal Excise Tax Return, is available for optional electronic filing.

How is an excise tax different from a sales tax?

Unlike general sales taxes, excise taxes are usually applied on a per-unit basis instead of as a percentage of the purchase price. For instance, cigarette excise taxes are calculated in cents per pack. And most gasoline excise taxes are imposed in cents per gallon.

Can you write off property taxes in Washington state?

As of 2018, however, taxpayers in Washington and nationwide have only been able to deduct up to $10,000 in combined property and sales taxes. There was no cap before, but there is now. But this only affects taxpayers who itemize their deductions.

What is Washington excise tax on real estate?

Property falling under these classifications will be taxed at a rate of 1.28% for the state portion. Land classifications are assigned by the county in which the property is located, for additional information contact the county assessor's office.

Is Washington excise tax deductible?

The federal government charges excise taxes on the sale or use of a wide variety of products. An excise tax isn't deductible if it's for a personal expense.

What is an excise tax also called?

Excise taxes can fall into one of two categories: Ad Valorem Taxes: These excise taxes are fixed percentage rates assessed on particular goods or services. Specific Taxes: These taxes are fixed dollar amounts applied to certain purchases.

What are the two types of excise tax?

Specific Tax – refers to the excise tax imposed which is based on weight or volume capacity or any other physical unit of measurement. Ad Valorem Tax – refers to the excise tax which is based on selling price or other specified value of the goods/articles.

Is WA state excise tax deductible?

An excise tax isn't deductible if it's for a personal expense. You can deduct as a business expense excise taxes that are ordinary and necessary expenses of carrying on your trade or business. Excise tax paid to your state and local for sale of home would not be business related so not deductible.

How much is WA excise tax?

Washington state levies a real estate excise tax (REET) on all property sales. This state tax rate is 1.28% of a property's full selling price.

Is Washington excise tax the same as sales tax?

Use tax is paid directly to the state using the use tax lines of the excise tax return or the use tax form. The local use tax rates are the same as the retail sales tax rates.

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What is WA DoR Combined Excise Tax Return?

The WA DoR Combined Excise Tax Return is a tax form used by businesses in Washington State to report various types of taxes, including retail sales tax, use tax, and business and occupation (B&O) tax. It consolidates multiple tax obligations into a single filing to streamline the reporting process.

Who is required to file WA DoR Combined Excise Tax Return?

Businesses operating in Washington State that meet certain revenue thresholds or engage in taxable activities are required to file the WA DoR Combined Excise Tax Return. This includes retailers, wholesalers, service providers, and other entities subject to state excise taxes.

How to fill out WA DoR Combined Excise Tax Return?

To fill out the WA DoR Combined Excise Tax Return, businesses need to gather relevant financial information, such as gross income, sales figures, and applicable deductions. They must complete the form by entering the required data in designated sections for different tax types, ensuring accuracy, and then submit it to the Washington State Department of Revenue according to their filing schedule.

What is the purpose of WA DoR Combined Excise Tax Return?

The purpose of the WA DoR Combined Excise Tax Return is to allow businesses to report their multiple tax liabilities in a simplified and efficient manner. It helps to ensure compliance with state tax laws and facilitates the collection of various taxes owed to the state.

What information must be reported on WA DoR Combined Excise Tax Return?

The WA DoR Combined Excise Tax Return must include information such as gross revenue from sales, deductions, exemptions, and the various tax amounts owed for retail sales tax, use tax, and business and occupation (B&O) tax, among others. Businesses must also provide their account details and verify that the information is accurate.