Title 82 — Title 82 EXCISE TAXES
62 chapters · 1,436 sections in this title.
RCW 82.87.010 Findings—Intent—2021 c 196.
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The legislature finds that it is the paramount duty of the state to amply provide every child in the state with an education, creating the opportunity for the child to succeed in school and thrive in life. The legislature further finds that high quality early learning and child c…
RCW 82.87.020 Definitions.
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*** CHANGE IN 2026 *** (SEE 1376.SL) ***The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Adjusted capital gain" means federal net long-term capital gain:(a) Plus any amount of long-term capital loss from a sale or ex…
RCW 82.87.030 Distribution of revenues.
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*** CHANGE IN 2026 *** (SEE 5998-S.SL) ***(1) All taxes, interest, and penalties collected under this chapter shall be distributed as follows:(a) The first $500,000,000 collected each fiscal year shall be deposited into the education legacy trust account created in RCW 83.100.230…
RCW 82.87.040 Tax imposed—Long-term capital assets.
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(1)(a) Beginning January 1, 2022, an excise tax is imposed on the sale or exchange of long-term capital assets. Only individuals are subject to payment of the tax, which equals seven percent multiplied by an individual's Washington capital gains.(b) Beginning January 1, 2025, an …
RCW 82.87.050 Exemptions.
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This chapter does not apply to the sale or exchange of:(1) All real estate transferred by deed, real estate contract, judgment, or other lawful instruments that transfer title to real property and are filed as a public record with the counties where real property is located;(2)(a…
RCW 82.87.060 Deductions.
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In computing tax for a taxable year, a taxpayer may deduct from his or her Washington capital gains:(1) A standard deduction of $250,000 per individual, or in the case of spouses or domestic partners, their combined standard deduction is limited to $250,000, regardless of whether…
RCW 82.87.070 Qualified family-owned small business deduction.
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(1) In computing tax under this chapter for a taxable year, a taxpayer may deduct from his or her Washington capital gains the amount of adjusted capital gain derived in the taxable year from the sale of substantially all of the fair market value of the assets of, or the transfer…
RCW 82.87.080 Charitable donation deduction.
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(1) In computing tax under this chapter for a taxable year, a taxpayer may deduct from the person's Washington capital gains the amount donated by the taxpayer to one or more qualified organizations during the same taxable year in excess of the minimum qualifying charitable donat…
RCW 82.87.090 Other taxes.
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The tax imposed under this chapter is in addition to any other taxes imposed by the state or any of its political subdivisions, or a municipal corporation, with respect to the same sale or exchange, including the taxes imposed in, or under the authority of, chapter 82.04, 82.08, …
RCW 82.87.100 Allocation of long-term capital gains and losses—Credit.
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(1) For purposes of the tax imposed under this chapter, long-term capital gains and losses are allocated to Washington as follows:(a) Long-term capital gains or losses from the sale or exchange of tangible personal property are allocated to this state if the property was located …
RCW 82.87.110 Filing of returns—Additional documentation—Penalties—Amendment of taxpayer's return.
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(1)(a) Except as otherwise provided in this section or RCW 82.32.080, taxpayers owing tax under this chapter must file, on forms prescribed by the department, a return with the department on or before the date the taxpayer's federal income tax return for the taxable year is requi…
RCW 82.87.120 Joint filers—Separate filers—Tax liability.
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(1) If the federal income tax liabilities of both spouses are determined on a joint federal return for the taxable year, they must file a joint return under this chapter.(2) Except as otherwise provided in this subsection, if the federal income tax liability of either spouse is d…
RCW 82.87.130 Administration of taxes.
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Except as otherwise provided by law and to the extent not inconsistent with the provisions of this chapter, chapter 82.32 RCW applies to the administration of taxes imposed under this chapter.[ 2021 c 196 s 14.]Notes:Automatic expiration date and tax preference performance statem…
RCW 82.87.140 Tax criminal penalties.
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(1) Any taxpayer who knowingly attempts to evade payment of the tax imposed under this chapter is guilty of a class C felony as provided in chapter 9A.20 RCW.(2) Any taxpayer who knowingly fails to pay tax, make returns, keep records, or supply information, as required under this…
RCW 82.87.150 Annual adjustments.
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(1) Beginning October 2025 and each October thereafter, the department must adjust the applicable amounts by multiplying the current applicable amounts by one plus the percentage by which the most current consumer price index available on October 1st of the current year exceeds t…
RCW 82.87.160 Credit—Sale or exchange of long-term capital assets—Transfer from general fund.
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(1) Beginning in tax year 2025 with taxes due in 2026, to avoid taxing the same sale or exchange under both the business and occupation tax and capital gains tax, a nonrefundable credit is allowed against taxes due under this chapter on a sale or exchange that is also subject to …
RCW 82.87.170 Brokers and barter exchanges—Submission of form 1099-B—Penalty—Allocation to state of long-term capital gains.
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(1) Except as otherwise provided in this section, brokers and barter exchanges must provide all copies of United States internal revenue service form 1099-B, or any successor form if so renamed, electronically to the department for sales or exchanges of long-term capital assets f…