Washington State Form 17 Withholding Tax In King

State:
Multi-State
County:
King
Control #:
US-00056DR
Format:
Word; 
Rich Text
Instant download

Description

The Washington state form 17 withholding tax in King is crucial for individuals and entities involved in real estate transactions within this jurisdiction. This form is primarily utilized to report and withhold tax on the sale of property, ensuring compliance with state regulations. Key features of the form include the identification of the seller, buyer, property details, and the agreement on the professional fee owed to the real estate agent upon closing. Instructions for filling out the form require clear documentation of the legal description of the property and signatures from both sellers and the agent involved. Specific use cases for the target audience, including attorneys, partners, owners, associates, paralegals, and legal assistants, revolve around its role in facilitating smooth real estate transactions and tax compliance. This form aids in minimizing potential legal disputes by ensuring all parties acknowledge their responsibilities and the fees associated with the listed transaction. Properly navigating the form can enhance professional practice, providing clarity and structure to real estate dealings in Washington.

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FAQ

King County sales tax details The minimum combined 2025 sales tax rate for King County, Washington is 8.8%. This is the total of state, county, and city sales tax rates. The Washington sales tax rate is currently 6.5%. The King County sales tax rate is 2.3%.

Washington's excise taxes apply to all business activities conducted in the state. Corporations, partnerships, sole proprietorships, joint ventures, nonprofit organizations, limited liability organizations, etc., conducting business in this state are all subject to these taxes, even if they do not have an office here.

How to fill out the Real Estate Excise Tax Affidavit Instructions? Enter seller and buyer names along with their ownership percentages. Provide the property address and relevant tax information. List any personal property accompanying the sale. Select applicable land use codes ing to the property type.

At least 61 years of age or older. Retired from regular gainful employment due to a disability. Veteran of the armed forces of the United States receiving compensation from the United States Department of Veterans Affairs at one of the following: Combined service-connected evaluation rating of 80% or higher.

The estate tax is a tax on the right to transfer property at the time of death. A person residing in Washington or a non-resident who owns property in Washington may owe an estate tax depending on the value of their estate.

Ask for Your Property Tax Card. Don't Build. Limit Curb Appeal. Research Neighboring Homes. Allow the Assessor Access to Your Home. Walk the Home With the Assessor. Look for Exemptions. Appeal Your Tax Bill.

The exemption amount is a set amount that generally changes annually. Amount taxpayers can claim for themselves, their spouses, and eligible dependents.

Age or disability At least 61 years of age. At least 57 years of age and the surviving spouse or domestic partner of a person who was an exemption participant at the time of their death. Unable to work because of a disability.

The tax amount is based on the value of the manufactured products or by-products. The Manufacturing B&O tax rate is 0.484 percent (0.00484) of your gross receipts. For products manufactured and sold in Washington, a business owner is subject to both the Manufacturing B&O Tax and the Wholesaling or Retailing B&O Tax.

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Washington State Form 17 Withholding Tax In King