The bill amends existing Washington state law regarding the taxation of radio and television broadcasting businesses. It introduces a new section to chapter 82.04 RCW, establishing that the tax rate for these businesses is set at 0.484 percent of their gross income. However, it specifies that gross income will not include revenues from network, national, and regional advertising, which can be calculated either through a standard deduction based on national averages or by itemization that excludes out-of-state audience revenue. The bill also clarifies the definition of "radio and television broadcasting" to encompass various delivery methods regulated by the Federal Communications Commission.

Additionally, the bill amends RCW 82.04.280, removing previous language that included radio and television broadcasting in a broader category of taxable businesses while maintaining the same tax rate. It also establishes that certain sections of the law, specifically RCW 82.32.805 and 82.32.808, do not apply to this act, indicating a targeted approach to the taxation of broadcasting entities. Overall, the bill aims to provide clarity and potentially reduce the tax burden on local broadcasting businesses by excluding specific advertising revenues from taxable income.

Statutes affected:
Original Bill: 82.04.280