RCW 82.94.070
Conditions for lessors.
The lessor or owner of a qualified building is not eligible for a deferral unless:
(1) The underlying ownership of the buildings, 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 82.94.050; 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.
[ 2022 c 257 § 108.]
Structure Revised Code of Washington
Chapter 82.94 - Tax Deferrals for Manufacturing and Research and Development.
82.94.030 - Tax deferral certificates.
82.94.040 - Requirements for recipients—Meaningful construction.
82.94.050 - Annual tax preference performance report—Repayment of deferred taxes.
82.94.060 - List of qualifying counties.
82.94.070 - Conditions for lessors.
82.94.080 - Applicability of general administrative provisions.
82.94.090 - Applications, reports, and information subject to disclosure.