82.60.020  <<  82.60.025 >>   82.60.030

Deferral eligibility requirements.

The lessor or owner of a qualified building is not eligible for a deferral unless:
(1) The underlying ownership of the buildings, machinery, and equipment vests exclusively in the same person; or
(2)(a) The lessor by written contract agrees to pass the economic benefit of the deferral to the lessee;
(b) The lessee that receives the economic benefit of the deferral agrees in writing with the department to complete the annual survey required under *RCW 82.60.070; and
(c) The economic benefit of the deferral passed to the lessee is no less than the amount of tax deferred by the lessor and is evidenced by written documentation of any type of payment, credit, or other financial arrangement between the lessor or owner of the qualified building and the lessee.

NOTES:

*Reviser's note: RCW 82.60.070 was amended by 2017 c 135 § 36, changing "annual survey" to "annual tax performance report," effective January 1, 2018.
Effective date2010 1st sp.s. c 16: See note following RCW 82.60.010.
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