Tag: Kenmore lawyer
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Understanding Washington’s Tax Penalties and How the Voluntary Disclosure Program Can Help
Operating a business in Washington comes with many responsibilities, and staying on top of state tax obligations is one of the most critical. However, many business owners—especially those operating from out of state or just starting out—may unknowingly overlook certain tax requirements. Ignoring these obligations can lead to significant financial penalties. The good news? The…
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New reporting classifications for Service and Other Activities B&O
Effective Jan. 1, 2026, the following Service and Other Activities B&O tax classifications have been renamed as follows: Please note: If you previously reported under the combined Service & Other Activities and/or Gambling Contests of Chance (less than $50,000 a year) B&O tax classification and you have gross income from gambling activities less than $50,000 per year, you must begin…
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LLC vs. PLLC in Washington: A Guide for Professionals
If you are an architect, doctor, dentist, lawyer, or accountant looking to hang your shingle in Washington, you might hit a roadblock when you go to register your business. You select “Limited Liability Company” (LLC) on the form, only to find out you might actually be required to form a Professional Limited Liability Company, aka…
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New Sales Tax Obligations: Key Professions Impacted by Washington SB 5814
Effective October 1, 2025, Washington has implemented a major shift in its tax landscape through Senate Bill 5814. This legislation “modernizes” the tax code by reclassifying several traditionally exempt service sectors as “retail sales.” If you operate in any of the following fields, you are now required to register for a retail tax endorsement, collect…
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ABA Releases 2025 Deal Points Study
The American Bar Association’s (ABA) Business Law Section has released its 2025 Private Target Deal Points Study. Studying deals between $25 Million and $900 million, the study analyzes trends in business deals, including: For more information, check out the alert issued by K&L Gates. To learn more about buying or selling a business, go to https://martinkreshon.com…