WA HB2707

Repeals RCW 82.04.272, which provided a preferential business and occupation (B&O) tax rate for wholesalers who warehouse and resell prescription drugs

Moves prescription drug wholesaling activities to the standard 0.5% B&O tax rate under RCW 82.04.280, rather than the previous lower preferential rate

Applies to wholesalers and retailers registered with the federal Drug Enforcement Administration and licensed by the pharmacy quality assurance commission

Intended to increase revenue to the state's general fund, citing that Washington currently has 786 tax exemptions that should be periodically reviewed

Takes effect January 1, 2027