What kind of tax incentives are available to businesses?

In Washington, businesses may be eligible for a variety of tax incentives. One popular incentive is the Business & Occupation (B&O) tax credit. This credit encourages businesses to invest in technology and equipment, hire more employees, and/or expand their operations in Washington. Additionally, the Washington State Department of Revenue provides a wide range of tax incentives and credits, such as the Manufacturing and Engineering Research Tax Credit and the Small Business Tax Credit. Some businesses may qualify for the Washington Economic Development Strategic Reserve (WEDSR) program, which provides aid to businesses that create and sustain jobs in designated areas of the state. Furthermore, businesses seeking to invest in alternative energy may qualify for credits through the Renewable Energy Systems Tax Credit. The Washington State Department of Revenue also offers reduced B&O tax rates for certain industries, such as aerospace, biotechnology, clean technology, software, and data centers. Businesses may also be eligible for property tax exemptions if they meet certain criteria. Lastly, businesses may be able to take advantage of federal tax incentives as well. These may include the Research and Development Tax Credit, the Rehabilitation Tax Credit, and the Employment Credits, among numerous others. Depending on the type of business and investment, businesses may qualify for a variety of tax incentives in Washington.

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What kind of tax incentives are available to businesses?

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