Chapter 3.40
LEASEHOLD EXCISE TAX
Sections:
3.40.030 Administration and collection.
3.40.050 Inspection of records.
3.40.060 Execution of contract.
3.40.010 Imposed.
There is levied and shall be collected a leasehold excise tax on and after May 1, 1983, upon the act or privilege of occupying or using publicly owned real or personal property within the city through a “leasehold interest” as defined by Section 2, Chapter 61, Laws of 1975-76, Second Extraordinary Session (hereafter “the State Act”). The tax shall be paid, collected and remitted to the Department of Revenue of the state of Washington at the time and in the manner prescribed by Section 5 of the State Act. (Ord. 523 § 1, 1983).
3.40.020 Rate.
The rate of the tax imposed by SMC 3.40.010 shall be the rate of four percent of the taxable rent (as defined by Section 2 of the State Act); provided, with respect to a product lease (as defined by Section 2 of the State Act), a credit of 33 percent of the tax produced by the above rate. (Ord. 523 § 2, 1983).
3.40.030 Administration and collection.
The administration and collection of the tax imposed by this chapter shall be in accordance with the provisions of the State Act. (Ord. 523 § 3, 1983).
3.40.040 Exemptions.
Leasehold interests exempted by Section 13 of the State Act as it now exists or may hereafter be amended shall be exempt from the tax imposed pursuant to SMC 3.40.010. (Ord. 523 § 4, 1983).
3.40.050 Inspection of records.
The city consents to the inspection of such records as are necessary to qualify the city for inspection of records of the Department of Revenue pursuant to RCW 82.32.330. (Ord. 523 § 5, 1983).
3.40.060 Execution of contract.
The mayor is authorized to execute a contract with the Department of Revenue of the state of Washington for the administration and collection of the tax imposed by SMC 3.40.010; provided, that the city attorney shall first approve the form and content of the contract. (Ord. 523 § 6, 1983).