Sales Tax Articles
Sales Tax State Activity Update - May 2007
When Washington Talks about Financial Information Delivered Electronically – People Listen
Effective August 1, 2007 electronically delivered standard financial information is exempt from sales and use tax, if the sale is to an investment company or financial institution.
For purposes of this exemption, a Financial Institution means a business within the scope of chapter 82.14A RCW and an Investment Company must fit the definition as outlined in RCW 82.04.293(2) (b).
Standard financial information means a collection of financial data or facts not generated for a specific customer including, but limited to financial market data, bond ratings, credit ratings, and deposit, loan, or mortgage reports. It does not include reports furnished as part of a service described in RCW 82.04.050(3).
Financial market data as used above means market pricing information, such as for securities, commodities, and derivatives: corporate actions for publicly and privately traded companies, such as dividends schedules and reorganizations; corporate attributes, such as domicile, currencies used, and exchanged where shares are traded; and currency information.
This law can be viewed on the Washington State Legislature website. (PDF)
(State of Washington, House Bill 1981, 02/21/2007)
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