Current through Register Vol. 24-06, March 15, 2024
(1)
Introduction.
(a) Effective June 1, 2010, Washington
changed its method of apportioning certain gross income from engaging in
business as a financial institution. This rule addresses how such gross income
must be apportioned when the financial institution engages in business both
within and outside the state.
(b)
RCW
82.04.460(2) requires the
department, to the extent feasible, to adopt the multistate tax commission's
recommended formula for apportionment and allocation of net income for
financial institutions, with the exceptions that the definition of financial
institution in the appendix to the recommended formula is advisory only and
only the receipts factor will be used to apportion income.
(c) On July 29, 2015, the multistate tax
commission approved amendments to its recommended formula for the apportionment
and allocation of net income of financial institutions including amendments to
how the receipts factor is calculated. The amendments are effective for tax
years starting on or after January 1, 2016.
(d) This rule applies to the apportionment of
income taxable under
RCW
82.04.290 for periods beginning January 1,
2016.
(e) Taxpayers may also find
helpful information in the following rules:
(i) WAC
458-20-19401 Minimum nexus
thresholds for apportionable activities. This rule describes minimum nexus
standards that are effective after May 31, 2010.
(ii) WAC
458-20-19402 Single factor
receipts apportionment Generally. This rule describes the general application
of single factor receipts apportionment that is effective after May 31,
2010.
(iii) WAC
458-20-19403 Single factor
receipts apportionment Royalties. This rule describes the application of single
factor receipts apportionment to gross income from royalties and applies only
to tax liability incurred after May 31, 2010.
(iv) WAC
458-20-194 Doing business inside
and outside the state. This rule describes separate accounting and cost
apportionment. It applies only to the periods January 1, 2006, through May 31,
2010.
(v) WAC 458-20-19404A
Financial institutions Income apportionment. This rule describes the
application of single factor receipts apportionment to gross income for
financial institutions during the period June 1, 2010, through December 31,
2015.
(vi) WAC
458-20-14601 Financial
institutions Income apportionment. This rule describes the apportionment of
income for financial institutions for periods prior to June 1, 2010.
(f) Financial institutions engaged
in making interstate sales of tangible personal property should also refer to
WAC 458-20-193, Inbound and outbound
interstate sales of tangible personal property.
(2)
Apportionment.
(a) Except as otherwise specifically
provided, a financial institution taxable under
RCW
82.04.290 and taxable in another state must
attribute and apportion its service and other activities income as provided in
this rule. Apportion able income that is not taxable under
RCW
82.04.290 must be apportioned pursuant to WAC
458-20-19402 Single factor
receipts apportionment Generally or WAC
458-20-19403 Single factor
receipts apportionment Royalties. "Apportionable income" means gross income of
the business generated from engaging in apportionable activities as defined in
WAC 458-20-19401 Minimum nexus
thresholds for apportionable activities, including income received from
apportionable activities performed outside this state if the income would be
taxable under chapter 82.04 RCW if received from activities in this state, less
any deductions allowable under chapter 82.04 RCW. All gross income that is not
from apportionable activities must be allocated pursuant to chapter 82.04 RCW.
A financial institution organized under the laws of a foreign country, the
Commonwealth of Puerto Rico, or a territory or possession of the United States,
except such institutions that are exempt under
RCW
82.04.315, whose effectively connected income
(as defined under the federal Internal Revenue Code) is taxable both in this
state and another state, other than the state in which it is organized, must
allocate and apportion its gross income as provided in this rule.
(b) All service and other activities income,
regardless of where that income is attributed, shall be apportioned to this
state by multiplying such income, less any deductions or exemptions authorized
under chapter 82.04 RCW, by the apportionment percentage. The apportionment
percentage is determined by the taxpayer's receipts factor (as described in
subsection (4) of this rule).
(c)
The receipts factor must be computed according to the method of accounting
(cash or accrual basis) used by the taxpayer for Washington state tax purposes
for the taxable period. For further guidance on the requirements of each
accounting method refer to WAC
458-20-197 When tax liability
arises and WAC
458-20-199 Accounting
methods.
(d) Generally, financial
institutions are required to file returns on a monthly basis. To enable
financial institutions to more easily comply with this rule, financial
institutions may file returns using the receipts factor calculated based on the
most recent calendar year for which information is available. If a financial
institution does not calculate its receipts factor based on the previous
calendar year for which information is available, it must use the current year
information to make that calculation. In either event, a reconciliation must be
filed for each year not later than October 31st of the following year. The
reconciliation must be filed on a form approved by the department. In the case
of consolidations, mergers, or divestitures, a taxpayer must make the
appropriate adjustments to the factors to reflect its changed
operations.
(e) Interest and
penalties on reconciliations under (d) of this subsection apply as follows:
(i) In either event (refund or additional
taxes due), interest will apply in a manner consistent with tax
assessments.
(ii) Penalties as
provided in
RCW
82.32.090 will apply to any such additional
tax due only if the reconciliation for a tax year is not completed and
additional tax is not paid by October 31st of the following year.
(f) If the apportionment
provisions of this rule do not fairly represent the extent of its business
activity in this state, the taxpayer may petition for, or the department may
require, in respect to all or any part of the taxpayer's business activity:
(i) Separate accounting;
(ii) The inclusion of one or more additional
factors which will fairly represent the taxpayer's business activity in this
state; or
(iii) The employment of
any other method to effectuate an equitable allocation and apportionment of the
taxpayer's receipts.
(3)
Definitions. The following
definitions apply throughout this rule unless the context clearly requires
otherwise:
(a)
"Billing address"
means the location indicated in the books and records of the taxpayer on the
first day of the taxable period (or on such later date in the taxable period
when the customer relationship began) as the address where any notice,
statement or bill relating to a customer's account is mailed.
(b)
"Borrower or credit card holder
located in this state" means:
(i) A
borrower, other than a credit card holder, that is engaged in a trade or
business and maintains its commercial domicile in this state; or
(ii) A borrower that is not engaged in a
trade or business or a credit card holder, whose billing address is in this
state.
(c)
"Card
issuer's reimbursement fee" means the fee a taxpayer receives from a
merchant's bank because one of the persons to whom the taxpayer has issued a
credit, debit, or similar type of card has charged merchandise or services to
the card.
(d)
"Commercial
domicile" means:
(i) The headquarters
of the trade or business, that is, the place from which the trade or business
is principally managed and directed; or
(ii) If a taxpayer is organized under the
laws of a foreign country, or of the Commonwealth of Puerto Rico, or any
territory or possession of the United States, such taxpayer's commercial
domicile is deemed for the purposes of this rule to be the state of the United
States or the District of Columbia from which such taxpayer's trade or business
in the United States is principally managed and directed. It is presumed,
subject to rebuttal by a preponderance of the evidence, that the location from
which the taxpayer's trade or business is principally managed and directed is
the state of the United States or the District of Columbia to which the
greatest number of employees are regularly connected or out of which they are
working, irrespective of where the services of such employees are performed, as
of the last day of the taxable period.
(e)
"Credit card" means a card,
or other means of providing information, that entitles the holder to charge the
cost of purchases, or a cash advance, against a line of credit.
(f)
"Debit card" means a card,
or other means of providing information, that enables the holder to charge the
cost of purchases, or a cash withdrawal, against the holder's bank account or a
remaining balance on the card.
(g)
"Department" means the department of revenue.
(h)
"Employee" means, with
respect to a particular taxpayer, any individual who, under the usual
common-law rules applicable in determining the employer-employee relationship,
has the status of an employee of that taxpayer.
(i)
"Financial institution"
means:
(i) Any corporation or other business
entity authorized under Title 30A, 31, 32, or 33 RCW to engage in business in
Washington, provided that persons authorized to act as a loan servicer pursuant
to chapter 31.04 RCW or as a check casher or check seller pursuant to chapter
31.45 RCW shall not be considered a financial institution solely on that basis;
or
(ii) Registered under the
Federal Bank Holding Company Act of 1956, as amended, or registered as a
savings and loan holding company under the Federal National Housing Act, as
amended;
(iii) A national bank
organized and existing as a national bank association pursuant to the
provisions of the National Bank Act, 12 U.S.C. Sec. 21 et seq.;
(iv) A savings association or federal savings
bank as defined in the Federal Deposit Insurance Act, 12 U.S.C. Sec. 1813
(b)(1);
(v) Any bank or thrift
institution incorporated or organized under the laws of any state;
(vi) Any corporation organized under the
provisions of 12 U.S.C. Secs. 611 to 631;
(vii) Any agency or branch of a foreign
depository as defined in 12 U.S.C. Sec. 3101 that is not exempt under
RCW
82.04.315;
(viii) A production credit association
organized under the Federal Farm Credit Act of 1933, all of whose stock held by
the Federal Production Credit Corporation has been retired.
(j)
"Gross income of the
business," "gross income," or
"income":
(i) Has the same meaning as in
RCW
82.04.080 and means the value proceeding or
accruing by reason of the transaction of the business engaged in and includes
compensation for the rendition of services, gains realized from trading in
stocks, bonds, or other evidences of indebtedness, interest, discount, rents,
royalties, fees, commissions, dividends, and other emoluments however
designated, all without any deduction on account of the cost of tangible
property sold, the cost of materials used, labor costs, interest, discount,
delivery costs, taxes, or any other expense whatsoever paid or accrued and
without any deduction on account of losses; and
(ii) Does not include amounts received from
an affiliated person if those amounts are required to be determined at arm's
length per sections 23A or 23B of the Federal Reserve Act. For the purpose of
this subsection, affiliated means the affiliated person and the financial
institution are under common control. Control means the possession (directly or
indirectly), of more than fifty percent of power to direct or cause the
direction of the management and policies of each entity. Control may be through
voting shares, contract, or otherwise.
(iii) Financial institutions must determine
their gross income of the business from gains realized from trading in stocks,
bonds, and other evidences of indebtedness on a net annualized basis.
(k)
"Interest, fees, and
penalties" means any fees related to a loan, credit card, or other
extension of credit and includes any fees charged a prospective borrower prior
to funding of a loan regardless of whether the loan is eventually
funded.
(l)
"Loan"
means any extension of credit resulting from direct negotiations between the
taxpayer and its customer, and/or the purchase, in whole or in part, of such
extension of credit from another. Loan includes participations, syndications,
and leases treated as loans for federal income tax purposes. Loan does not
include: Futures or forward contracts; options; notional principal contracts
such as swaps; credit card receivables, including purchased credit card
relationships; noninterest bearing balances due from depository institutions;
cash items in the process of collection; federal funds sold; securities
purchased under agreements to resell; assets held in a trading account;
securities; interests in a real estate mortgage investment conduit (REMIC), or
other mortgage-backed or asset-backed security; and other similar
items.
(m)
"Loan secured by
real property" means that more than fifty percent of the aggregate value
of the collateral used to secure a loan or other obligation was real property,
when valued at fair market value as of the time the original loan or obligation
was incurred.
(n)
"Merchant
discount" means the fee (or negotiated discount) charged to a merchant
by the taxpayer for the privilege of participating in a program whereby a
credit, debit, or similar type of card is accepted in payment for merchandise
or services sold to the card holder, net of any card holder charge-back and
unreduced by any interchange transaction or issuer reimbursement fee paid to
another for charges or purchases made by its card holder.
(o)
"Participation" means an
extension of credit in which an undivided ownership interest is held on a
pro rata basis in a single loan or pool of loans and related
collateral. In a loan participation, the credit originator initially makes the
loan and then subsequently resells all or a portion of it to other lenders. The
participation may or may not be known to the borrower.
(p)
"Person" has the meaning
given in RCW 82.04.030.
(q)
"Regular place of business"
means an office at which the taxpayer carries on its business in a regular and
systematic manner and which is continuously maintained, occupied and used by
employees of the taxpayer.
(r)
"Service and other activities income" means the gross income of
the business taxable under
RCW
82.04.290, including income received from
activities outside this state if the income would be taxable under RCW
82.04.-290 if received from activities in this state.
(s)
"State" means a state of the
United States, the District of Columbia, the Commonwealth of Puerto Rico, any
territory or possession of the United States, or any foreign country or
political subdivision of a foreign country.
(t)
"Syndication" means an
extension of credit in which two or more persons fund and each person is at
risk only up to a specified percentage of the total extension of credit or up
to a specified dollar amount.
(u)
"Taxable in another state" means either:
(i) The taxpayer is subject to business
activities tax by another state on its service and other activities income;
or
(ii) The taxpayer is not subject
to a business activities tax by another state on its service and other
activities income, but that state would have jurisdiction to subject the
taxpayer to a business activities tax on such income under the substantial
nexus standards explained in WAC
458-20-19401.
(iii) For purposes of this subsection (3)(u),
"business activities tax" means a tax measured by the amount of, or economic
results of, business activity conducted in a state. The term includes taxes
measured in whole or in part on net income or gross income or receipts.
Business activities tax does not include a sales tax, use tax, or a similar
transaction tax, imposed on the sale or acquisition of goods or services,
whether or not denominated a gross receipts tax or a tax imposed on the
privilege of doing business.
(v)
"Taxable period" means the
calendar year during which tax liability is incurred.
(4)
Receipts factor.
(a) General. The receipts factor is a
fraction, the numerator of which is the service and other activities income of
the taxpayer in this state during the taxable period and the denominator of
which is the service and other activities income of the taxpayer inside and
outside this state during the taxable period. The method of calculating
receipts for purposes of the denominator is the same as the method used in
determining receipts for purposes of the numerator.
(b) Interest, fees, and penalties imposed in
connection with loans secured by real property.
(i) The numerator of the receipts factor
includes interest, fees and penalties imposed in connection with loans secured
by real property if the property is located within this state. If the property
is located both within this state and one or more other states, the income
described in this subsection (4)(b)(i) is included in the numerator of the
receipts factor if more than fifty percent of the fair market value of the real
property is located within this state. If more than fifty percent of the fair
market value of the real property is not located within any one state, then the
income described in this subsection (4)(b) (i) must be included in the
numerator of the receipts factor if the borrower is located in this
state.
(ii) The determination of
whether the real property securing a loan is located within this state must be
made as of the time the original agreement was made and any and all subsequent
substitutions of collateral must be disregarded.
(c) Interest, fees, and penalties imposed in
connection with loans not secured by real property. The numerator of the
receipts factor includes interest, fees, and penalties imposed in connection
with loans not secured by real property if the borrower is located in this
state.
(d) Net gains from the sale
of loans. The numerator of the receipts factor includes net gains from the sale
of loans. Net gains from the sale of loans includes income recorded under the
coupon stripping rules of Section 1286 of the federal Internal Revenue Code.
(i) The amount of net gains (but not less
than zero) from the sale of loans secured by real property included in the
numerator is determined by multiplying such net gains by a fraction, the
numerator of which is the amount included in the numerator of the receipts
factor pursuant to (b) of this subsection and the denominator of which is the
total amount of interest and fees or penalties imposed in connection with loans
secured by real property.
(ii) The
amount of net gains (but not less than zero) from the sale of loans not secured
by real property included in the numerator is determined by multiplying such
net gains by a fraction, the numerator of which is the amount included in the
numerator of the receipts factor pursuant to (c) of this subsection and the
denominator of which is the total amount of interest and fees or penalties
imposed in connection with loans not secured by real property.
(e) Receipts from fees, interest,
and penalties charged to card holders. The numerator of the receipts factor
includes fees, interest, and penalties charged to card holders including, but
not limited to, annual fees and overdraft fees, if the billing address of the
card holder is in this state.
(f)
Net gains from the sale of credit card receivables. The numerator of the
receipts factor includes net gains (but not less than zero) from the sale of
credit card receivables multiplied by a fraction, the numerator of which is the
amount included in the numerator of the receipts factor pursuant to (e) of this
subsection and the denominator of which is the taxpayer's total amount of
interest, fees, and penalties charged to credit card holders.
(g) Card issuer's reimbursement fees. The
numerator of the receipts factor includes:
(i) All credit card issuer's reimbursement
fees multiplied by a fraction, the numerator of which is the amount of fees,
interest, and penalties charged to credit card holders included in the
numerator of the receipts factor pursuant to (e) of this subsection and the
denominator of which is the taxpayer's total amount of fees, interest, and
penalties charged to credit card holders.
(ii) All debit card issuer's reimbursement
fees multiplied by a fraction, the numerator of which is the amount of fees,
interest, and penalties charged to debit card holders included in the numerator
of the receipts factor pursuant to (e) of this subsection and the denominator
of which is the taxpayer's total amount of fees, interest, and penalties
charged to debit card holders.
(iii) All other card issuer's reimbursement
fees multiplied by a fraction, the numerator of which is the amount of fees,
interest, and penalties charged to all other card holders included in the
numerator of the receipts factor pursuant to (e) of this subsection and the
denominator of which is the taxpayer's total amount of fees, interest, and
penalties charged to all other card holders.
(h) Receipts from merchant discount.
(i) If the taxpayer can readily determine the
location of the merchant and if the merchant is in this state, the numerator of
the receipts factor includes receipts from merchant discount
(ii) If the taxpayer cannot readily determine
the location of the merchant, the numerator of the receipts factor includes
such receipts from the merchant discount multiplied by a fraction:
(A) In the case of a merchant discount
related to the use of a credit card, the numerator of which is the amount of
fees, interest, and penalties charged to credit card holders that is included
in the numerator of the receipts factor pursuant to (e) of this subsection and
the denominator of which is the taxpayer's total amount of fees, interest, and
penalties charged to credit card holders; and
(B) In the case of a merchant discount
related to the use of a debit card, the numerator of which is the amount of
fees, interest, and penalties charged to debit card holders that is included in
the numerator of the receipts factor pursuant to (e) of this subsection and the
denominator of which is the taxpayer's total amount of fees, interest, and
penalties charged to debit card holders; and
(C) In the case of a merchant discount
related to the use of all other types of cards, the numerator of which is the
amount of fees, interest, and penalties charged to all other card holders that
is included in the numerator of the receipts factor pursuant to (e) of this
subsection and the denominator of which is the taxpayer's total amount of fees,
interest, and penalties charged to all other card holders.
(iii) The taxpayer's method for sourcing each
receipt from a merchant discount must be consistently applied to such receipt
in all states that have adopted sourcing methods substantially similar to
(h)(i) and (ii) of this subsection and must be used on all subsequent returns
for sourcing receipts from such merchant unless the department permits or
requires application of the alternative method.
(i)
Receipts from ATM fees. The
receipts factor includes all ATM fees that are not forwarded directly to
another bank.
(i) The numerator of the
receipts factor includes fees charged to a card holder for the use at an ATM of
a card issued by the taxpayer if the card holder's billing address is in this
state.
(ii) The numerator of the
receipts factor includes fees charged to a card holder, other than the
taxpayer's card holder, for the use of such card at an ATM owned or rented by
the taxpayer, if the ATM is in this state.
(j) Loan servicing fees.
(i)
(A) The
numerator of the receipts factor includes loan servicing fees derived from
loans secured by real property multiplied by a fraction, the numerator of which
is the amount included in the numerator of the receipts factor under (b) of
this subsection and the denominator of which is the total amount of interest,
fees, and penalties imposed in connection with loans secured by real property.
(B) The numerator of the receipts
factor includes loan servicing fees derived from loans not secured by real
property multiplied by a fraction, the numerator of which is the amount
included in the numerator of the receipts factor under (c) of this subsection
and the denominator of which is the total amount of interest and fees or
penalties imposed in connection with loans not secured by real property.
(ii) If the taxpayer
receives loan servicing fees for servicing either the secured or the unsecured
loans of another, the numerator of the receipts factor includes such fees if
the borrower is located in this state.
(k) Receipts from the financial institution's
investment assets and activities and trading assets and activities.
(i) Interest, dividends, net gains (but not
less than zero) and other income from investment assets and activities and from
trading assets and activities that are reported on the taxpayer's financial
statements, call reports, or similar reports are included in the receipts
factor. Investment assets and activities and trading assets and activities
include, but are not limited to: Investment securities; trading account assets;
federal funds; securities purchased and sold under agreements to resell or
repurchase; options; futures contracts; forward contracts; notional principal
contracts such as swaps; equities; and foreign currency transactions. With
respect to the investment and trading assets and activities described in
(k)(i)(A) and (B) of this subsection, the receipts factor includes the
following:
(A) The receipts factor includes
the amount by which interest from federal funds sold and securities purchased
under resale agreements exceeds interest expense on federal funds purchased and
securities sold under repurchase agreements.
(B) The receipts factor includes the amount
by which interest, dividends, gains and other receipts from trading assets and
activities including, but not limited to, assets and activities in the matched
book, in the arbitrage book, and foreign currency transactions, exceed amounts
paid in lieu of interest, amounts paid in lieu of dividends, and losses from
such assets and activities.
(ii) The numerator of the receipts factor
includes interest, dividends, net gains (but not less than zero) and other
receipts from both investment assets and activities and from trading assets and
activities described in (k)(i) of this subsection that are attributable to this
state.
(A) The amount of interest, dividends,
net gains (but not less than zero) and other income from investment assets and
activities in each investment account to be attributed to this state and
included in the numerator is determined by multiplying all such income from
such assets and activities by a fraction, the numerator of which is the average
value of such assets which are properly assigned to a regular place of business
of the taxpayer within this state and the denominator of which is the average
value of all such assets.
(B) The
amount of interest from federal funds sold and purchased and from securities
purchased under resale agreements and securities sold under repurchase
agreements attributable to this state and included in the numerator is
determined by multiplying the amount described in (k)(i)(A) of this subsection
from such funds and such securities by a fraction, the numerator of which is
the average value of federal funds sold and securities purchased under
agreements to resell which are properly assigned to a regular place of business
of the taxpayer within this state and the denominator of which is the average
value of all such funds and such securities.
(C) The amount of interest, dividends, gains
and other income from trading assets and activities including, but not limited
to, assets and activities in the matched book, in the arbitrage book and
foreign currency transactions (but excluding amounts described in (k)(i)(A) and
(B) of this subsection), attributable to this state and included in the
numerator is determined by multiplying the amount described in (k)(i)(B) of
this subsection by a fraction, the numerator of which is the average value of
such trading assets which are properly assigned to a regular place of business
of the taxpayer within this state and the denominator of which is the average
value of all such assets.
(D) For
purposes of (k)(ii) of this subsection, the average value of trading assets
owned by the taxpayer is the original cost or other basis of such property for
federal income tax purposes without regard to depletion, depreciation, or
amortization.
(iii) In
lieu of using the method set forth in (k)(ii) of this subsection, the taxpayer
may elect, or the department may require in order to fairly represent the
business activity of the taxpayer in this state, the use of the method set
forth in this paragraph.
(A) The amount of
interest, dividends, net gains (but not less than zero) and other income from
investment assets and activities in the investment account to be attributed to
this state and included in the numerator is determined by multiplying all such
income from such assets and activities by a fraction, the numerator of which is
the gross receipts from such assets and activities which are properly assigned
to a regular place of business of the taxpayer within this state and the
denominator of which is the gross income from all such assets and
activities.
(B) The amount of
interest from federal funds sold and purchased and from securities purchased
under resale agreements and securities sold under repurchase agreements
attributable to this state and included in the numerator is determined by
multiplying the amount described in (k)(i)(A) of this subsection from such
funds and such securities by a fraction, the numerator of which is the gross
income from such funds and such securities which are properly assigned to a
regular place of business of the taxpayer within this state and the denominator
of which is the gross income from all such funds and such securities.
(C) The amount of interest, dividends, gains
and other receipts from trading assets and activities including, but not
limited to, assets and activities in the matched book, in the arbitrage book
and foreign currency transactions (but excluding amounts described in
(k)(ii)(A) or (B) of this subsection), attributable to this state and included
in the numerator is determined by multiplying the amount described in (k)(i)(B)
of this subsection by a fraction, the numerator of which is the gross income
from such trading assets and activities which are properly assigned to a
regular place of business of the taxpayer within this state and the denominator
of which is the gross income from all such assets and activities.
(iv) If the taxpayer elects or is
required by the department to use the method set forth in (k)(iii) of this
subsection, it must use this method on all subsequent returns unless the
taxpayer receives prior permission from the department to use, or the
department requires a different method.
(v) The taxpayer has the burden of proving
that an asset or activity was properly assigned to a regular place of business
outside of this state by demonstrating that the day-to-day decisions regarding
the asset or activity occurred at a regular place of business outside this
state. If the day-to-day decisions regarding an asset or activity occur at more
than one regular place of business and one such regular place of business is in
this state and one such regular place of business is outside this state, such
asset or activity is considered to be located at the regular place of business
of the taxpayer where the investment or trading policies or guidelines with
respect to the asset or activity are established. Such policies and guidelines
are presumed, subject to rebuttal by preponderance of the evidence, to be
established at the commercial domicile of the taxpayer.
(l) All other receipts. The numerator of the
receipts factor includes all other receipts from engaging in activities subject
to tax under
RCW
82.04.290 pursuant to the rules set forth in
WAC 458-20-19402 Single factor
receipts apportionment Generally.
(m) Attribution of certain receipts to
commercial domicile. All receipts which would be assigned under this rule to a
state in which the taxpayer is not taxable are included in the numerator of the
receipts factor, if the taxpayer's commercial domicile is in this
state.
Statutory
Authority:
RCW
82.04.067,
82.32.300, and
82.01.060(2). WSR
13-22-044, § 458-20-19404, filed 10/31/13, effective 12/1/13. Statutory
Authority:
RCW
82.32.300 and
82.01.060(2). WSR
12-19-064, § 458-20-19404, filed 9/14/12, effective 10/15/12. WSR
13-21-033, § 458-20-19404, filed 10/9/2013, effective
11/9/2013