Bill > SB5458

This bill modifies the tax exemption provisions for newspapers and digital content publishers in Washington state. The legislation expands the existing tax exemption for printing and publishing newspapers to include eligible digital content, which is defined as a publication issued at least monthly, featuring written content with identifiable authorship, and available exclusively in electronic format. The bill now requires persons claiming this exemption to file an annual tax performance report, and establishes penalties for non-compliance: those who fail to file the report will be subject to a tax equal to 0.484 percent of their gross business income. If the Department of Revenue determines a person is not eligible for the exemption, they must pay back taxes at the same 0.484 percent rate, with interest assessed retroactively to the date the exemption was originally taken. The exemption applies only to businesses where more than 50 percent of their worldwide income comes from newspaper or digital content publishing. The bill includes provisions for the sections to expire on January 1, 2026, and January 1, 2034, respectively, ensuring periodic review of these tax provisions.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5458&Year=2025&Initiative=false