Washington Business Fall 2017 | Legislative Review & Vote Record | Page 53

issue area reports | taxation and automatic 10-year sunsets. And the current system is consistent with the National Conference of State Legislatures (NCSL) Tax Expenditure Budgets and Reports Best Practices. NCSL considers Washington a leader in transparency and accountability. Washington already has a strong program in place. HB 2144/HB 2165/HB 1054/SB 5025 taxation of vapor products Failed/AWB Opposed These bills have a number of differences, but the primary thing they have in common is an extremely high tax on vaping products. In one case (House Bill 2144), the tax extends to cessation product sales as well. AWB heard from our members that these bills would greatly harm the vape shop industry. Vape shops are retail locations, but they are also places people can go to get personal and direct information and educate themselves about the products they are purchasing. This is a regulated industry, with regulated products overseen by the state Liquor and Cannabis Board (LCB). These businesses are required to have and maintain a license, products must be labeled with safety information and warnings, and the LCB is vested with various enforcement powers. Only seven states and Washington, D.C., tax e-cigarettes and vape products. Pennsylvania adopted a lower 40 percent tax during the 2016 session, and a significant number of business closures have already been reported. These are small businesses, who are paying taxes and operating in a regulated environment. Passing this legislation would have negatively impacted their ability to conduct business in Washington, potentially pushing more sales online and across state lines. HB 1593 Printing Packaging Mailing Signage Corporate Identity Contact Jenilee Antone at 253.255.7529 or [email protected] simplifying small securities offerings Passed/AWB Supported Rep. Brandon Vick, R-Vancouver, brought forward a bill resulting from interim stakeholder work which simplifies and makes more accessible small securities offerings. The current crowdfunding law is complex and expensive for businesses to use. This bill creates more options and should help start-up businesses get access to capital which has the potential to ultimately increase employment in the state. This additional information type of offering can be a good option for start-up businesses Budget Bills and Documents: to raise capital. AWB supported fiscal.wa.gov/BudgetOBillsEnacted.aspx this bill as a way to increase Interactive Budget Reports: access to capital and to improve fiscal.wa.gov/BudgetO.aspx the state’s economy. special edition 2017 51