Washington state’s businesses bore much of the tax burden for fiscal year 2020, delivering nearly half of state and local tax revenue. Nationally, Washington’s business taxes were the 9th highest per employee, the 32nd largest as a share of economic activity, and the 17th greatest as a share of total state and local tax revenue. The earliest economic effects of COVID-19 were felt in the final quarter of FY 2020, during which slowed economic activity and tax relief caused revenue collections to fall short of projections.

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