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Washington Free Printable Instructions for Determining your Annual Small Business Credit for 2024 Washington Instructions for Determining your Annual Small Business Credit

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Instructions for Determining your Annual Small Business Credit
Instructions for Determining your Annual Small Business Credit

Instructions for Determining your   Annual Small Business Credit     If you need assistance determining your percentage of taxable income, follow steps 1 through 3  in the worksheet below.  If you answer “yes” to question 1 below, use Table 1.   1. Was 50% or more of your taxable income reported under Service and Other Activities,  Gambling Contests of Chance, For Profit Hospitals, and/or Scientific R&D?  If you answer “yes” to question 2 below, use Table 2.  2. Was less than 50% of your taxable income reported under Service and Other Activities,  Gambling Contests of Chance, For Profit Hospitals, and/or Scientific R&D?  Once you determine which credit table to use, follow steps 4 through 7 below to calculate your  net B&O tax due.      Small Business Credit Table Worksheet (For your use only)  Determine your percentage  Step 1: Add together the B&O taxable income you’re reporting for these classifications:  Service and Other Activities  Gambling Contests of Chance   For Profit Hospitals; Scientific R&D  $ $ $ Total Step 2: Enter the total of your taxable income for all B&O classifications   Step 3: Divide the total from step 1 by the amount in step 2 and refer back to  questions 1 & 2 above.  $   $       %  Determine your net B&O tax due   Step 4: Enter the total amount of tax due for all B&O classifications      $     Step 5: Add together the credit amounts taken for:  Multiple Activities Credit (MATC)  International Service Credit  Other B&O Credits  $ $ $ Total $   Step 6: Subtract the Step 5 total from the Step 4 amount. This net B&O tax due    amount is used to determine your SBC.   $   Step 7: Using the table determined in the questions above, calculate your SBC based on the amount in Step 6.  Write the amount of your SBC in the Credits section on page 2 of your return on the Small Business B&O  Tax Credit line.  For tax assistance or to inquire about this form in an alternate format, please call 1‐800‐647‐7706. Teletype (TTY)  users may use the Washington Relay Service by calling 711.  REV 41 0058 (10‐30‐15)  Annual Small Business Credit  Table 1      If your net B&O tax is  At Least  But less Than  Your SBC is:  If your net B&O tax is Your SBC is: At Least But less Than   Equal to the Amount  $996  $1001  of B&O Tax Due  $840  $1001  $1006  $0  $841  $841  $846  $846  $851  $835  $1006  $851  $856  $830  $856  $861  $861    If your net B&O tax is Your SBC is: At Least  But less Than   $685  $1156  $1161  $525  $680  $1161  $1166  $520  $1011  $675  $1166  $1171  $515  $1011  $1016  $670  $1171  $1176  $510  $825  $1016  $1021  $665  $1176  $1181  $505  $866  $820  $1021  $1026  $660  $1181  $1186  $500  $866  $871  $815  $1026  $1031  $655  $1186  $1191  $495  $871  $876  $810  $1031  $1036  $650  $1191  $1196  $490  $876  $881  $805  $1036  $1041  $645  $1196  $1201  $485  $881  $886  $800  $1041  $1046  $640  $1201  $1206  $480  $886  $891  $795  $1046  $1051  $635  $1206  $1211  $475  $891  $896  $790  $1051  $1056  $630  $1211  $1216  $470  $896  $901  $785  $1056  $1061  $625  $1216  $1221  $465  $901  $906  $780  $1061  $1066  $620  $1221  $1226  $460  $906  $911  $775  $1066  $1071  $615  $1226  $1231  $455  $911  $916  $770  $1071  $1076  $610  $1231  $1236  $450  $916  $921  $765  $1076  $1081  $605  $1236  $1241  $445  $921  $926  $760  $1081  $1086  $600  $1241  $1246  $440  $926  $931  $755  $1086  $1091  $595  $1246  $1251  $435  $931  $936  $750  $1091  $1096  $590  $1251  $1256  $430  $936  $941  $745  $1096  $1101  $585  $1256  $1261  $425  $941  $946  $740  $1101  $1106  $580  $1261  $1266  $420  $946  $951  $735  $1106  $1111  $575  $1266  $1271  $415  $951  $956  $730  $1111  $1116  $570  $1271  $1276  $410  $956  $961  $725  $1116  $1121  $565  $1276  $1281  $405  $961  $966  $720  $1121  $1126  $560  $1281  $1286  $400  $966  $971  $715  $1126  $1131  $555  $1286  $1291  $395  $971  $976  $710  $1131  $1136  $550  $1291  $1296  $390  $976  $981  $705  $1136  $1141  $545  $1296  $1301  $385  $981  $986  $700  $1141  $1146  $540  $1301  $1306  $380  $986  $991  $695  $1146  $1151  $535  $1306  $1311  $375  $991  $996  $690  $1151  $1156  $530  $1311  $1316  $370  REV 41 0058 (10‐30‐15)   Annual Small Business Credit  Table 1  Continued    If your net B&O tax is  Your SBC is:  At Least  But less Than    If your net B&O tax is Your SBC is: If your net B&O tax is At Least But less Than   At Least  But less Than Your SBC is:   $1316  $1321  $365  $1441  $1446  $240  $1566  $1571  $115  $1321  $1326  $360  $1446  $1451  $235  $1571  $1576  $110  $1326  $1331  $355  $1451  $1456  $230  $1576  $1581  $105  $1331  $1336  $350  $1456  $1461  $225  $1581  $1586  $100  $1336  $1341  $345  $1461  $1466  $220  $1586  $1591  $95  $1341  $1346  $340  $1466  $1471  $215  $1591  $1596  $90  $1346  $1351  $335  $1471  $1476  $210  $1596  $1601  $85  $1351  $1356  $330  $1476  $1481  $205  $1601  $1606  $80  $1356  $1361  $325  $1481  $1486  $200  $1606  $1611  $75  $1361  $1366  $320  $1486  $1491  $195  $1611  $1616  $70  $1366  $1371  $315  $1491  $1496  $190  $1616  $1621  $65  $1371  $1376  $310  $1496  $1501  $185  $1621  $1626  $60  $1376  $1381  $305  $1501  $1506  $180  $1626  $1631  $55  $1381  $1386  $300  $1506  $1511  $175  $1631  $1636  $50  $1386  $1391  $295  $1511  $1516  $170  $1636  $1641  $45  $1391  $1396  $290  $1516  $1521  $165  $1641  $1646  $40  $1396  $1401  $285  $1521  $1526  $160  $1646  $1651  $35  $1401  $1406  $280  $1526  $1531  $155  $1651  $1656  $30  $1406  $1411  $275  $1531  $1536  $150  $1656  $1661  $25  $1411  $1416  $270  $1536  $1541  $145  $1661  $1666  $20  $1416  $1421  $265  $1541  $1546  $140  $1666  $1671  $15  $1421  $1426  $260  $1546  $1551  $135  $1671  $1676  $10  $1426  $1431  $255  $1551  $1556  $130  $1676  $1681  $5  $1431  $1436  $250  $1556  $1561  $125  $1681  or more  $0  $1436  $1441  $245  $1561  $1566  $120            REV 41 0058 (10‐30‐15)   Annual Small Business Credit  Table 2      If your net B&O tax is  At Least  But less Than  Your SBC is:  If your net B&O tax is Your SBC is: At Least But less Than   Equal to the Amount  $561  $566  of B&O Tax Due  $420  $566  $571  $0  $421  $421  $426  $426  $431  $415  $571  $431  $436  $410  $436  $441  $441    If your net B&O tax is Your SBC is: At Least  But less Than   $280  $706  $711  $135  $275  $711  $716  $130  $576  $270  $716  $721  $125  $576  $581  $265  $721  $726  $120  $405  $581  $586  $260  $726  $731  $115  $446  $400  $586  $591  $255  $731  $736  $110  $446  $451  $395  $591  $596  $250  $736  $741  $105  $451  $456  $390  $596  $601  $245  $741  $746  $100  $456  $461  $385  $601  $606  $240  $746  $751  $95  $461  $466  $380  $606  $611  $235  $751  $756  $90  $466  $471  $375  $611  $616  $230  $756  $761  $85  $471  $476  $370  $616  $621  $225  $761  $766  $80  $476  $481  $365  $621  $626  $220  $766  $771  $75  $481  $486  $360  $626  $631  $215  $771  $776  $70  $486  $491  $355  $631  $636  $210  $776  $781  $65  $491  $496  $350  $636  $641  $205  $781  $786  $60  $496  $501  $345  $641  $646  $200  $786  $791  $55  $501  $506  $340  $646  $651  $195  $791  $796  $50  $506  $511  $335  $651  $656  $190  $796  $801  $45  $511  $516  $330  $656  $661  $185  $801  $806  $40  $516  $521  $325  $661  $666  $180  $806  $811  $35  $521  $526  $320  $666  $671  $175  $811  $816  $30  $526  $531  $315  $671  $676  $170  $816  $821  $25  $531  $536  $310  $676  $681  $165  $821  $826  $20  $536  $541  $305  $681  $686  $160  $826  $831  $15  $541  $546  $300  $686  $691  $155  $831  $836  $10  $546  $551  $295  $691  $696  $150  $836  $841  $5  $551  $556  $290  $696  $701  $145  $841  or more  $0  $556  $561  $285  $701  $706  $140            REV 41 0058 (10‐30‐15)  
Extracted from PDF file 2023-washington-rev-41-0058.pdf, last modified November 2015

More about the Washington REV 41-0058 Other TY 2023

You can take the Small Business Tax Credit [815] if: - your taxable income was less than 50% reported under Service and Other Activities, Gambling Contests of Chance, For-Profit Hospitals, and/or Scientific R&D and - your total B&O tax liability is below: $71 for monthly taxpayers $211 for quarterly taxpayers $841 for annual taxpayers

We last updated the Instructions for Determining your Annual Small Business Credit in February 2024, so this is the latest version of REV 41-0058, fully updated for tax year 2023. You can download or print current or past-year PDFs of REV 41-0058 directly from TaxFormFinder. You can print other Washington tax forms here.


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Other Washington Other Forms:

TaxFormFinder has an additional four Washington income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
REV 84-0001a Real Estate Excise Tax Affidavit
REV 84-0003e Real Estate Excise Tax Mobile Home Affidavit
Form 700028 Business License Application
REV 40-0011-1 Bad Debt Tax Credit Schedule B
REV 40-0014e Multiple Activities Tax Credit Schedule C

Download all WA tax forms View all 5 Washington Income Tax Forms


Form Sources:

Washington usually releases forms for the current tax year between January and April. We last updated Washington REV 41-0058 from the Department of Revenue in February 2024.

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Historical Past-Year Versions of Washington REV 41-0058

We have a total of four past-year versions of REV 41-0058 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 REV 41-0058

Instructions for Determining your Annual Small Business Credit

2022 REV 41-0058

Instructions for Determining your Annual Small Business Credit

2019 REV 41-0058

Instructions for Determining your Annual Small Business Credit

2018 REV 41-0058

Instructions for Determining your Annual Small Business Credit


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