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Trade Groups Ask SCOTUS to Hear Commerce Clause Challenge to Washington B&O Surtax on Financial Institutions

Two organizations, the Washington Bankers Association and American Bankers Association (collectively, the “Associations”), are urging the U.S. Supreme Court to review the constitutionality of Washington’s business and...more

Washington Supreme Court Upholds B&O Surtax on Financial Institutions

On September 30, 2021, the Washington Supreme Court upheld the constitutionality of the state’s 1.2% Business & Occupation (“B&O”) surtax on large financial institutions. Wash. Bankers Ass’n v. State, No. 98760-2 (Wash....more

Washington Supreme Court Asked to Review and Overturn Lower Court Decision Invalidating B&O Surtax on Large Financial Institutions

The fate of Washington’s Business & Occupation (“B&O) surtax on large financial institutions remains uncertain as the state’s highest court has not yet decided whether to grant direct review or transfer the state’s appeal to...more

Washington Judge Rules In Favor of Financial Institutions – B&O Tax Measure Discriminates Against Out-of-State Banks

Earlier this month, a Washington state trial judge struck down the state’s recently enacted Business & Occupation Tax (“B&O) measure on large out-of-state financial institutions finding that although the tax measure was...more

Washington B&O Tax Litigation Hits Financial Services Industry

A Washington state trial judge partially granted the state’s motion to dismiss a lawsuit challenging the validity of a recently enacted Washington tax measure that increases the state’s Business & Occupation Tax (“B&O Tax”)...more

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