The Washington Department of Revenue recently released its public draft rule implementing Sections 201 through 203 of 2ESSB 6143 (ch. 23, 1st Sp. Sess, Laws 2010), effective May 1, 2010.
The current draft incorporates comments on the Februray 2011 draft which were received from the DOR's stakeholder group. The draft narrows the range of transactions potentially subject to a tax avoidance analysis. It also clarifies when the analysis may be applied retroactively, as well as provides safe harbor provisions.
It is expected that the DOR will begin the formal rulemaking process shortly. During the formal rulemaking process there will be additional opportunities to provide comments on the rule.
Comments on the draft rule can be addressed to Kate Adams at KateA@DOR.WA.GOV
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