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New Business And Occupation Tax In Washington

(AP) – Gov. Jay Inslee signed the first new law of this year’s Washington state legislative session, a measure that changes the structure of a new business and occupation tax surcharge levied on some professional services and technology companies in order to create a more stable revenue stream for the state’s college grant program. The tax is to be put into a special account for higher education programs, with the largest beneficiary being the Washington College Grant program. That program guarantees aid to college students at or below the state’s median family income, based on a sliding scale that increases the grant as family income drops.


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