2005 Washington Revised Code RCW 82.04.4462: Credit — Investment in design and preproduction development computer software and hardware. (Expires July 1, 2024.)
(1) In computing the tax imposed under this chapter, a credit is allowed for the investment related to design and preproduction development computer software and hardware acquired between July 1, 1995, and December 1, 2003, and used by an eligible person primarily for the digital design and development of commercial airplanes. The credit shall be equal to the purchase price of such property, multiplied by 8.44 percent. Credit taken in any one calendar year may not exceed ten million dollars, and total lifetime credit taken under this section by any one person may not exceed twenty million dollars. Credit may be carried over until used.
(2) The definitions in this subsection apply throughout this section.
(a) "Commercial airplane" has the meaning given in RCW
82.32.550.
(b) "Design and preproduction development computer software and hardware" means computer-aided three-dimensional interactive applications and other solid modeling computer technology that allow for electronic design and testing during product development.
(c) "Eligible person" means a person as defined in RCW
82.04.030, who is a manufacturer of commercial airplanes.
(3) An application must be made to the department before taking the credit under this section. The application shall be made to the department in a form and manner prescribed by the department. The application shall contain information regarding the uses of the computer software and hardware, purchase price, dates of acquisition, and other information required by the department. The department shall rule on the application within sixty days. All applications must be received by the department within one year of December 1, 2003.
(4) This section expires July 1, 2024.
[2003 2nd sp.s. c 1 § 8.]
| Contingent effective date -- 2003 2nd sp.s. c 1: See RCW
82.32.550.
Finding -- 2003 2nd sp.s. c 1: See note following RCW 82.04.4461.
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