April 30 survey filing deadline nears for food processors seeking tax exemptions

Food processors participating in tax incentive programs have until April 30 to file required surveys covering their 2011 activity or risk losing the benefits of the programs, the Washington State Department of Revenue announced April 3.

The surveys involve fruit and vegetable processors, dairy product processors and seafood product processors. All three are exempt from business and occupation taxes on products they manufacture in the state.

These taxpayers also are exempt on products they sell at wholesale to buyers who transport them out of state.

The exemption requires that the participating businesses submit annual surveys about employment and the amount of business activity exempted from taxes.

Businesses that fail to submit surveys on time must be taxed at the manufacturing rate of 0.484 percent of their gross income.

Businesses can either complete the paper survey form found at http://dor.wa.gov/Docs/Pubs/Misc/AnnualSurvey.pdf or online by logging onto their accounts and clicking on “Credits and Tax Incentives.”

The exemptions expire June 30, 2012, unless they are extended by the state Legislature.  Businesses will pay the regular 0.484 percent manufacturing rate as of July 1, 2012.

For more information, call 1-877-345-3353 or (360) 902-7079.

 

Tags: , ,

Related Stories