State Tax Day - Current, S.25, Washington—Sales and Use Tax: High Volume Mortgage Lenders Subject to Tax on Interest Income, (Mar 25, 2026)
High volume mortgage lenders are required to pay Washington business and occupation (B&O) tax on amounts received as interest on loans primarily secured by first mortgages or trust deeds on nontransient residential properties. A "high volume mortgage lender" is a financial institution subject to the financial institution B&O surcharge and that has an annual closed mortgage origination volume of at least $10 billion reported under the federal Home Mortgage Disclosure Act in the previous calendar year. For the enacted bill, see the legislative website.
H.B. 2089, Laws 2026, effective July 1, 2026