Washington · No income tax, B&O tax
CPA, bookkeeping & fractional CFO services in Washington
Washington has no personal or corporate income tax, but nearly every business pays the Business and Occupation tax on gross receipts, and high earners may owe the state capital gains tax. CPA Torrance is a CPA-led firm based in Torrance, California that provides bookkeeping, tax planning, tax filing and fractional CFO support to Washington businesses remotely.
- Serving all of Washington remotely
- Washington B&O and excise returns tracked for you
- Monthly reporting included
In short
What is the Washington B&O tax?
The Business and Occupation tax is a Washington tax on the gross receipts of businesses, not their profit. Rates depend on the classification of the activity, such as retailing, wholesaling or services, and a business can pay B&O even in a year it loses money. It is reported with sales tax on the combined excise tax return.
- State income tax
- None (capital gains tax applies)
- State sales tax
- 6.5% + local
- Key business tax
- Business and Occupation tax
- How we serve
- Remotely, statewide
Services in Washington
What we do for Washington business owners
From Seattle and Bellevue tech companies to Spokane manufacturers and Tacoma logistics firms, Washington businesses need careful gross receipts tracking and federal planning. We provide monthly bookkeeping, federal and Washington tax planning, filings and CFO reporting from one coordinated team.
Bookkeeping Services
- Monthly reconciliations in QuickBooks Online
- Washington sales tax by delivery location
- Payroll and contractor payment review
- Monthly profit and loss and balance sheet
- Catch-up and clean-up bookkeeping
Tax Planning & Strategy
- Entity and S corporation review
- B&O classification review
- Federal and state estimated payments
- Multi-state income review
- Year-end tax planning meeting
Tax Filing & Compliance
- Federal business returns (1120, 1120S, 1065)
- Washington combined excise tax returns (B&O and sales)
- Owner individual returns
- IRS and state notice help
- Due-date tracking for every filing
Fractional CFO Services
- Cash-flow forecasts
- Budget versus actual reviews
- Margin and pricing analysis
- Lender- and investor-ready reporting
- Growth and hiring plans
Washington tax planning
Planning around Washington taxes
With no income tax but a tax on gross receipts, Washington planning focuses on B&O classification, sales tax sourcing, the capital gains tax for owners and federal planning.
Book a 15-min callB&O classification
The right classification and credits can lower B&O tax. We review how your revenue is categorized.
Capital gains planning
Washington taxes certain long-term capital gains above a threshold. We plan business sales and investments with it in mind.
City B&O taxes
Seattle, Tacoma and other cities have their own B&O or license taxes. We track them alongside state filings.
Who we work with
Washington industries we serve
We work with owner-led businesses across Washington, with experience in the industries that drive the state economy.
Technology and software
SaaS and engineering firms with deferred revenue and equity.
E-commerce brands
Online sellers with destination-based sales tax.
Aerospace suppliers
Manufacturers with job costing and inventory.
Agriculture and food
Growers, processors and food brands.
E-commerce sellers
Online brands with Washington sales tax, inventory and multi-channel books.
Professional firms
Consultants, agencies and law firms billing by the hour, project or retainer.
Why Washington businesses choose CPA Torrance
Areas we cover
Serving businesses across Washington
Businesses in Seattle, Spokane, Tacoma, Bellevue, Vancouver work in technology, aerospace, e-commerce, agriculture and healthcare. CPA Torrance helps Washington businesses, including those owned from out of state, stay compliant and organized through remote meetings.
- Seattle
- Spokane
- Tacoma
- Bellevue
- Vancouver
- Redmond
- Everett
- Kent
- Olympia
- Kirkland
- Video meetings on your schedule
- Secure document portal for statements and returns
- Cloud accounting you can see any time
FAQ
Washington business tax and accounting questions
Not covered here? A 15-minute call gets you a straight answer for your situation.
What financial services can CPA Torrance provide to Washington businesses?
We provide monthly bookkeeping, federal and Washington tax planning, business tax filing and fractional CFO services. Everything runs from one set of books, so your bookkeeper, CPA and CFO advisor work from the same numbers.
Do I pay B&O tax if my business lost money?
Yes, B&O is based on gross receipts, not profit, so it can apply in a loss year. Small business credits reduce or eliminate it for many lower-revenue businesses.
Does Washington have a capital gains tax?
Yes. Washington taxes certain long-term capital gains above an annual threshold, with exemptions such as real estate. It matters most when you sell a business or major investments.
How is Washington sales tax sourced?
Washington uses destination-based sourcing, so the rate depends on where the customer receives the goods. Online and delivery businesses need rates by address.
Can CPA Torrance work with Washington businesses remotely?
Yes. We serve businesses across Washington, including Seattle, Spokane, Tacoma, Bellevue, Vancouver, Redmond, Everett, Kent, Olympia and Kirkland, through video meetings, a secure document portal and cloud accounting you can see any time. Our office is in Torrance, California.
How do I get started?
Book a 15-minute call or request a free financial assessment. We review your books, tax position and systems and recommend the right mix of support for your Washington business.
Get your Washington books and taxes in order.
Book a call to review bookkeeping and tax planning for your Washington business.