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November 19, 2019
OLYMPIA (AP) — Two bank association groups have sued the Washington Department of Revenue over a measure passed by the Legislature that will soon increase business taxes on large, out-of-state financial institutions.
The Washington Bankers Association and American Bankers Association filed the lawsuit in King County Superior Court on Nov. 5. They want the court to invalidate House Bill 2167, which increases the business and occupation tax on financial institutions with an annual net income of at least $1 billion.
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