Office of Governor Gary Locke
FOR IMMEDIATE RELEASE - April 23, 1997
Contact:  Governor's Communications Office, 360-902-4136

Gov. Locke signs intangibles exemption bill

OLYMPIA - Gov. Locke tonight signed legislation to eliminate the uncertainty of intangibles taxation. Intangibles include a business' goodwill, trademarks and intellectual property rights.


"I made this decision to support the businesses of the future, especially our state's high technology and growth industries," Locke said. "It ends the uncertainty on the part of business owners about the taxation of intangible property."


The Department of Revenue had extensively reworked the bill during the session to minimize any unexpected tax losses. The bill also calls for a report to the governor on any tax losses, tax shifts or litigation arising from the act.

» Return to this month's News Releases

» View News Release Archive