Washington Court of Appeals: Cash management account proceeds constitute gross income


Funds withdrawn from an affiliated group’s cash management concentration account by one member to cover costs it incurred in providing administrative services to other members constitute gross income for Seattle business and occupation (B&O) tax purposes, even though the funds are recorded as an account payable and not gross income, the Washington Court of Appeal, Division One, ruled. [Getty Images (Seattle) Inc. v. City of Seattle, Wa. Ct. of App. No. 65113-7-I, September 12, 2011]

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