Washington ~ Multiple Taxes: Initiative on Repeal of Tax on Candy, Bottled Water, and Carbonated Beverages to Be Certified

Washington Secretary of State Sam Reed is expected to certify for the November ballot an initiative that would repeal the sales tax on candy, end the temporary sales tax on bottled water, repeal the temporary excise tax on carbonated beverages, and restore the reduced business and occupation (B&O) tax rate for certain food processors. S.B. 6143, Laws 2010, imposed sales tax on candy effective June 1, 2010, imposed sales tax on bottled water from June 1, 2010, through July 1, 2013, and imposed an excise tax on carbonated beverages from July 1, 2010, through June 30, 2013. The legislation also narrowed the B&O preferential tax rate for fruit and vegetable manufacturers by requiring that end products be comprised either (1) exclusively of fruits and/or vegetables, or (2) of any combination of fruits, vegetables, and certain other substances that, cumulatively, may not exceed the amount of fruits and vegetables contained in the product measured by weight or volume.

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Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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