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1. Health Maintenance Organization, Health Care Service Contractor, Certified <br /> Health Plan. Beginning on January 1, 2000, this chapter does not apply to any health <br /> maintenance organization, health care service contractor, or certified health plan in <br /> respect to premiums or prepayments that are taxable under RCW 48.14.0201. <br /> C. Utility Exemption. <br /> 1. Public Utilities. This chapter shall not apply to any person in respect to a business <br /> activity with respect to which tax liability is specifically imposed under the provisions of <br /> Chapters 3.28 and 3.76 of this code. <br /> D. Financial Exemptions. <br /> 1. Investments—Dividends from Subsidiary Corporations. This chapter shall not <br /> apply to amounts derived by persons, other than those engaging in banking, loan, <br /> security, or other financial businesses, from investments or the use of money as such, and <br /> also amounts derived as dividends by a parent from its subsidiary corporations. <br /> 2. International Banking Facilities. This chapter shall not apply to the gross receipts <br /> of an international banking facility. <br /> As used in this section, an "international banking facility" means a facility represented <br /> by a set of asset and liability accounts segregated on the books and records of a <br /> commercial bank, the principal office of which is located in this state, and which is <br /> incorporated and doing business under the laws of the United States or of this state, a <br /> United States branch or agency of a foreign bank, an Edge corporation organized under <br /> Section 25(a) of the Federal Reserve Act, 12 United States Code 611-631, or an <br /> Agreement corporation having an agreement or undertaking with the Board of Governors <br /> of the Federal Reserve System under Section 25 of the Federal Reserve Act, 12 United <br /> States Code 601-604(a), that includes only international banking facility time deposits (as <br /> defined in subsection (a)(2) of Section 204.8 of Regulation D (12 CFR Part 204), as <br /> promulgated by the Board of Governors of the Federal Reserve System), and <br /> international banking facility extensions of credit (as defined in subsection (a)(3) of <br /> Section 204.8 of Regulation D). <br /> E. Miscellaneous Exemptions. <br /> 1. Insurance Business. This chapter shall not apply to amounts received by any <br /> person who is an insurer or their appointed insurance producer upon which a tax based on <br /> gross premiums is paid to the state pursuant to RCW 48.14.020, and provided further, <br /> that the provisions of this subsection shall not exempt any bonding company from tax <br /> with respect to gross income derived from the completion of any contract as to which it is <br /> a surety, or as to any liability as successor to the liability of the defaulting contractor. <br /> 2. Farmers—Agriculture. This chapter shall not apply to any farmer in respect to <br /> amounts received from selling fruits, vegetables, berries, butter, eggs, fish, milk, poultry, <br /> meats or any other agricultural product that is raised, caught, produced, or manufactured <br /> by such persons. <br /> Page 45 of 56 <br />