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Life Science Research Deductions In 2012, the City of Seattle passed a law allowing a B&O tax deduction for federal life science research grants. The funds must be spent for life science research and development and/or support for research and development, and be included in the calculation of gross receipts. Nonprofit and private sector agencies, recipients and subrecipients are eligible. Everyone filing for the life science tax deduction must complete an annual survey with the Department of Finance and Administrative Services. The annual survey submittal instructions can be found within Rule 5-069. The annual survey is due to the City of Seattle License and Tax Division by April 30, 2013. The Life Science Tax Deduction ordinance and subsequent development of General instructions to file the Annual Tax Report for Life Science Research Deductions You must file the Annual Tax Report for Life Science Research Deductions by April 30, 2013. For more information on what activities qualify for the deduction, please refer to Rule 5-069. If you do not submit a complete report, the Department of Finance and Administrative Services will declare to be due immediately, with interest, the amount of taxes reduced, credited or exempted for the year in which deductions are claimed. The Annual Reporting Form must be filed electronically. If you need help, please call (206) 684-8484. If you are unable to file the report electronically as required, please call (206) 684-8484 and ask to speak with Joseph Cunha, Tax Manager, or Anna Pedroso, Senior Tax Auditor. You are required to make a good faith effort to substantially respond to all report requirements. If a question does not apply, answer the question using a zero (0). Please do not use “various” or “please contact for further information” as responses. If you have questions about this deduction, including whether you qualify, please call the City of Seattle’s License and Tax division at 206-684-8484.
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