State incentives promote aerospace industry growth
To promote innovation and industry growth, Washington State offers an array of tax incentives for the aerospace industry, including reduced or deferred tax credits and sales and use tax exemptions.
- B&O tax opportunities include:
- Rate reductions.
- Credit for qualified aerospace product development expenditures.
- Credit for property or leasehold excise taxes paid on property.
- Sales and use tax incentives are available for:
- Computer hardware, software and peripherals.
- Construction of new facilities for airplane repair and maintenance.
- Construction of new facilities used to manufacture commercial airplanes, fuselages or wings of computer airplanes.
For more information, visit the Washington State Department of Revenue website.