OLYMPIA, Wash. — A bill to exempt crowdfunding efforts from the state sales tax and business-and-occupation tax is working its way through the Washington House. The House Finance Committee held a hearing Friday on the bill by Rep. Drew Stokesbary, R-Auburn. Right now, Washington does not have any specific laws addressing crowdfunding. The Washington Department of Revenue has interpreted existing business laws to require that fundraisers must report their total income after the fund-raising period is over. And fundraisers must collect sales tax on a service, item or software that is provided as a reward for a donation. Jennifer Muhm of buddingSTEM —… Read More
GeekWire

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