02/05/2007: "State Tax Report Released"

Sales tax is the state's single largest source of revenue, but what comes in second? You can find the answer and more in the latest issue of the Tax Reference Manual , which is in two parts, an Introduction, and then a breakdown of all of the tax categories, ranging from retail to real estate.

The manual shows that the retail sales and use tax generated $7.4 billion, nearly three times the $2.5 billion produced by the second-highest revenue generator, the business and occupation tax paid by businesses.

The Washington State Department of Revenue posted the 2007 edition of the manual on its web site this week. The report provides an overview of Washington's tax system and summarizes more than 50 state and local taxes. It cites their purpose, history, rate changes over the years, and how much tax each has produced over the past decade.

The Department has published the Tax Reference Manual periodically since 1975 as a service to businesses, the Legislature, state and local agencies, academic community and the general public. It provides a broad look at how the current tax system evolved from territorial days to the present.