The mere thought of an audit by the government can send shivers down the spine of business owners. In Washington, a number of different agencies can conduct audits, including the Department of Labor and Industries and the Employment Security Department. These agencies are tasked with collecting employment taxes related to our state’s workers compensation and unemployment systems.
The audits by these agencies look into whether a business has paid all employment taxes that it owes. These audits can be scary for businesses, given the… Continue reading
A “tax” is a pecuniary burden exacted by government authority and is laid upon persons or property to support government.
The Washington Real Estate Excise Tax (“REET”) is imposed on the transfer of an interest in real property (fee, easement, extraction rights, etc.) for value or “consideration”. The incidence of the tax is the transfer, usually by deed, of real property. If the County Treasurer believes the tax is due, the deed may not be recorded without paying the tax. The tax rate in Whatcom… Continue reading