RCW 82.85.030
Deferral eligibility—Lessor or owner of qualified building.
The lessor or owner of a qualified building is not eligible for a deferral unless:
(1) The underlying ownership of the building, machinery, and equipment vests exclusively in the same person; or
(2)(a) The lessor by written contract agrees to pass the economic benefit of the deferral to the lessee;
(b) The lessee that receives the economic benefit of the deferral agrees in writing with the department to complete the annual tax performance report required under RCW 82.32.534; and
(c) The economic benefit of the deferral passed to the lessee is no less than the amount of tax deferred by the lessor and is evidenced by written documentation of any type of payment, credit, or other financial arrangement between the lessor or owner of the qualified building and the lessee.
[ 2020 c 139 § 47; 2015 3rd sp.s. c 6 § 403.]
NOTES:
Reviser's note: For information on the expiration of tax preferences, see RCW 82.32.805.
Effective dates—2015 3rd sp.s. c 6: See note following RCW 82.04.4266.
Structure Revised Code of Washington
Chapter 82.85 - Job Creation and Economic Development Investment Incentives—Pilot Program.
82.85.010 - Findings—Tax preference performance statement.
82.85.030 - Deferral eligibility—Lessor or owner of qualified building.
82.85.040 - Deferral application.
82.85.050 - Deferral certificate—Issued by the department.
82.85.060 - Repayment—Deferred taxes.
82.85.070 - Invest in Washington account—Created—Funded.