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A bipartisan bill introduced in the Rural Development, Agriculture & Natural Resources Committee would reduce the business and occupation tax for manufacturers and publishers of printed materials and periodicals, excluding newspapers. It would also extend the preferential B&O tax rate for timber and woods products. The B&O tax is Washington state’s major business tax, according to committee documents. The tax is imposed against a company’s gross income and does not deduct the cost of doing business. “As folks know … the dra...
