Washington § 82.85.060 - Repayment — Deferred taxes.

Full text of Washington Revised Code of Washington § 82.85.060 — Repayment — Deferred taxes., with citation guidance and answers to common questions.

§ 82.85.060. Repayment — Deferred taxes.

(1) The recipient must begin paying the deferred taxes in the fifth year after the date certified by the department as the date on which the investment project has been operationally completed. The first payment of ten percent of the deferred taxes will be due on December 31st of the fifth calendar year after such certified date, with subsequent annual payments of ten percent of the deferred taxes due on December 31st for each of the following nine years.
(2) The department may authorize an accelerated repayment schedule upon request of the recipient.
(3) Interest may not be charged on any taxes deferred under this chapter for the period of deferral, although all other penalties and interest applicable to delinquent excise taxes may be assessed and imposed for delinquent payments under this chapter. The debt for deferred taxes will not be extinguished by insolvency or other failure of the recipient. Transfer of ownership does not terminate the deferral. The deferral is transferred, subject to the successor meeting the eligibility requirements of this chapter, for the remaining periods of the deferral.
[ 2015 3rd sp.s. c 6 s 406.]

Notes

Application—2015 3rd sp.s. c 6 ss 406-409: "The expiration provisions of RCW 82.32.805(1)(a) do not apply to sections 406 through 409 of this act." [ 2015 3rd sp.s. c 6 s 411.]
Effective dates—2015 3rd sp.s. c 6: See note following RCW 82.04.4266.

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Frequently Asked Questions About Washington § 82.85.060

What does Revised Code of Washington § 82.85.060 cover?

Section 82.85.060 ("Repayment — Deferred taxes.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 82.85.060?

A common citation format is "Revised Code of Washington § 82.85.060" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 82.85.060 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

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