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performance of business activities of any kind on or off the premises of <br /> such nonprofit organizations which are performed for the primary <br /> purpose of: <br /> a. Providing gainful employment or rehabilitation services to the <br /> handicapped as an interim step in the rehabilitation process for those <br /> who cannot be readily absorbed in the competitive labor market or during <br /> such time as employment opportunities for them in the competitive labor <br /> market do not exist; or <br /> b. Providing evaluation and work adjustment services for <br /> handicapped individuals. <br /> 9. Credit Unions. This chapter shall not apply to the gross income of <br /> credit unions organized under the laws of this state, any other state, or <br /> the United States. <br /> B. Healthcare Exemption. <br /> Health Maintenance Organization, Health Care Service Contractor, <br /> Certified Health Plan. Beginning on January 1, 2000. This chapter does <br /> not apply to any health maintenance organization, health care service <br /> contractor, or certified health plan in respect to premiums or <br /> prepayments that are taxable under RCW 48.14.0201. <br /> C. Utility Exemption. <br /> Public Utilities. This chapter shall not apply to any person in respect to <br /> a business activity with respect to which tax liability is specifically <br /> imposed under the provisions of Chapters 3.28 and 3.76 of this code. <br /> D. Financial Exemptions. <br /> 1. Investments—Dividends from Subsidiary Corporations. This <br /> chapter shall not apply to amounts derived by persons, other than those <br /> engaging in banking, loan, security, or other financial businesses, from <br /> investments or the use of money as such, and also amounts derived as <br /> dividends by a parent from its subsidiary corporations. <br /> 2. International Banking Facilities. This chapter shall not apply to the <br /> gross receipts of an international banking facility. <br /> As used in this section, an "international banking facility" means a <br /> facility represented by a set of asset and liability accounts segregated on <br /> the books and records of a commercial bank, the principal office of which <br /> is located in this state, and which is incorporated and doing business <br /> under the laws of the United States or of this state, a United States <br /> branch or agency of a foreign bank, an Edge corporation organized <br /> under Section 25(a) of the Federal Reserve Act, 12 United States Code <br /> 611-631, or an Agreement corporation having an agreement or <br /> undertaking with the Board of Governors of the Federal Reserve System <br /> under Section 25 of the Federal Reserve Act, 12 United States Code <br /> 601-604(a), that includes only international banking facility time deposits <br /> (as defined in subsection (a)(2) of Section 204.8 of Regulation D (12 <br /> CFR Part 204), as promulgated by the Board of Governors of the Federal <br /> Reserve System), and international banking facility extensions of credit <br /> (as defined in subsection (a)(3)of Section 204.8 of Regulation D). <br /> E. Miscellaneous Exemptions. <br /> 1. Insurance Business. This chapter shall not apply to amounts <br /> received by any person or agent who is an insurer upon which a tax <br /> based on gross premiums is paid to the state pursuant to RCW <br /> 48.14.020; provided, that the provisions of this subsection shall not <br /> exempt any person engaging in the business of insurance as a broker as <br /> defined in RCW 48.17.020 or as a solicitor as defined in RCW 48.17.030; <br /> and provided further, that the provisions of this subsection shall not <br /> exempt any bonding company from tax with respect to gross income <br /> derived from the completion of any contract as to which it is a surety, or <br /> as to any liability as successor to the liability of the defaulting contractor. <br /> 21 <br />