WA HB1998

Amends RCW 82.04.4281 to clarify the business and occupation (B&O) tax deduction for investment income following uncertainty created by the state supreme court's Antio, LLC v. Department of Revenue decision

Adds a statutory definition of "investment" to include equities, fixed income instruments (bonds, notes, commercial paper, savings deposits, mortgage loans), derivative instruments (options, futures, swaps), and commodities instruments

Adds a definition for "factoring" as the purchase, sale, and collection of accounts receivable including credit card receivables

Removes "investment" from the 5% gross receipts threshold calculation, applying that limit only to intercompany loan income between parent and subsidiary entities

Applies retroactively but explicitly does not create a right to refunds for taxes previously paid on investment income before the effective date