Washington Extends B&O Tax To Directors Of Washington Corporations

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In an effort to correct a prior “widespread misunderstanding” on the part of corporate directors, legislation recently was enacted to extend the Washington business and occupation (B&O) tax to directors of corporations based or headquartered in Washington State. The legislation, Second Engrossed Substitute Senate Bill 6143 (2ESSB 6143), signed by Governor Christine Gregoire into law on April 23, 2010, makes corporate directors subject to the B&O tax on the gross amount of compensation they receive in their capacity as directors effective July 1, 2010. The text of 2ESSB 6143 is available at (please see full alert below for link).

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