Low Taxes, Low Business Costs
Spokane Valley offers businesses a friendly tax climate. The city does not impose a local Business and Occupation (B&O) tax or corporate income tax. Additionally, the city has maintained a low property tax, choosing not to levy a state-allowed one percent annual tax increase in city property taxes for the past several years.
In addition, Washington is also the only state with worker’s compensation insurance rates based on the hours worked rather than the wages paid. This means businesses are not required to pay taxes for hours the worker is off for sick, vacation or holiday leave, making insurance much more affordable for businesses.
There are over 50 tax incentive programs available for businesses in the state. These incentives are to encourage the creation and preservation of family-wage jobs. Learn more about state tax incentive programs.
Visit this helpful website to learn more about specific tax rates or taxes on various industries.
To help you better understand the tax obligations for specific industries, the State Department of Revenue has created the following online guides.
The State of Washington has easy-to-understand resources about the basics on how to plan for, prepare and pay state business taxes and insurance premiums. Visit the Washington State Department of Revenue for additional details.