State Budget has Big Tax Break
The budget deal approved last week in Olympia includes a new half-million dollar tax break for Washington state’s largest private company.
The Seattle Times reports Darigold brought in nearly $2.5 billion in revenue last year.
The dairy-production company says it is considering building an infant-formula plant but can’t go forward if formula exported from the state is subject to the state business-and-occupation tax.
One prominent Seattle lawmaker highlighted the break this week as an example of the unscrutinized items that get into budget deals at the last minute.
Rep. Reuven Carlyle, who chairs the House Finance Committee, mentions the Darigold tax-break and several others as part of the “give and take” of final budget negotiations.
Carlyle wrote on his Facebook page that he wishes the Legislature had vetted tax breaks more fully.