Laserfiche WebLink
(7) Interest on loans to farmers and ranchers, producers or harvesters of aquatic products, <br /> or their cooperatives. In computing tax, there may be deducted from the measure of tax <br /> amounts derived as interest on loans to bona fide farmers and ranchers, producers or <br /> harvesters of aquatic products, or their cooperatives by a lending institution which is <br /> owned exclusively by its borrowers or members and which is engaged solely in the <br /> business of making loans and providing finance-related services to bona fide farmers and <br /> ranchers, producers or harvesters of aquatic products, their cooperatives, rural residents <br /> for housing, or persons engaged in furnishing farm-related or aquatic-related services to <br /> these individuals or entities. <br /> Miscellaneous deductions. <br /> (8) Receipts from tangible personal property delivered outside the State. In computing <br /> tax, there may be deducted from the measure of tax under retailing or wholesaling <br /> amounts derived from the sale of tangible personal property that is received by the <br /> purchaser or its agent outside the State of Washington. <br /> (9) Cash discount taken by purchaser. In computing tax, there may be deducted from the <br /> measure of tax the cash discount amounts actually taken by the purchaser. This deduction <br /> is not allowed in arriving at the taxable amount under the extractive or manufacturing <br /> classifications with respect to articles produced or manufactured, the reported values of <br /> which, for the purposes of this tax, have been computed according to the "value of <br /> product" provisions. <br /> (10) Credit losses of accrual basis taxpayers. In computing tax, there may be deducted <br /> from the measure of tax the amount of credit losses actually sustained by taxpayers <br /> whose regular books of account are kept upon an accrual basis. <br /> (11) Repair, maintenance, replacement, etc., of residential structures and commonly held <br /> property- eligible organizations. <br /> (a) In computing tax, there maybe deducted from the measure of tax amounts <br /> used solely for repair,maintenance, replacement, management, or improvement <br /> of the residential structures and commonly held property, but excluding property <br /> where fees or charges are made for use by the public who are not guests <br /> accompanied by a member,which are derived by: <br /> (i) A cooperative housing association, corporation, or partnership from a <br /> person who resides in a structure owned by the cooperative housing <br /> association, corporation, or partnership; <br /> (ii)An association of owners of property as defined in RCW 64.32.010, as <br /> now or hereafter amended, from a person who is an apartment owner as <br /> defined in RCW 64.32.010; or <br /> (iii) An association of owners of residential property from a person who is <br /> a member of the association. "Association of owners of residential <br /> property" means any organization of all the owners of residential property <br /> 27 <br />