Credit—Pass-through entity tax payments.

(1) Beginning in tax year 2028 for taxes due in 2029, a nonrefundable credit is allowed against taxes due under this chapter for the amount of the tax expense incurred by a pass-through entity under RCW 82A.04.520 attributable to the owner as provided in RCW 82A.04.520(3). For a resident, the credit under this section must be reduced by the amount of any credit claimed under RCW 82A.04.110 based on the same Washington taxable income.(2) The credit claimed under this section for a taxable year may not exceed the tax otherwise due under this chapter for that taxable year. Unused credit may not be carried forward or backward to another taxable year. No refunds may be granted for unused credit under this section.[ 2026 c 238 s 206.]Notes:Findings—Intent—Effect of invalidation of 2026 c 238 s 201—Automatic expiration date and tax preference performance statement exemption—Necessity of act—Intent—Implementation by department of revenue—2026 c 238: See notes following RCW 82A.04.030.