Washington Code 84.36.035 – Property used by qualifying blood, tissue, or blood and tissue banks
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(1) The following property is exempt from taxation: All property, whether real or personal, belonging to or leased by any nonprofit corporation or association and used exclusively in the business of a qualifying blood bank, a qualifying tissue bank, or a qualifying blood and tissue bank, or in the administration of these businesses. If the real or personal property is leased, the benefit of the exemption shall inure to the nonprofit corporation or association.
Terms Used In Washington Code 84.36.035
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Nonprofit: means an organization, association or corporation no part of the income of which is paid directly or indirectly to its members, stockholders, officers, directors or trustees except in the form of services rendered by the organization, association, or corporation in accordance with its purposes and bylaws and the salary or compensation paid to officers of such organization, association or corporation is for actual services rendered and compares to the salary or compensation of like positions within the public services of the state;
Washington Code 84.36.800Personal property: All property that is not real property.
(2) The definitions in RCW 82.04.324 apply to this section.
(3) To be exempt under this section, the property must be used exclusively for the purposes for which exemption is granted, except as provided in RCW 84.36.805.
NOTES:
Findings—Intent—Tax preference performance statement—Does not apply—2014 c 99: See notes following RCW 84.36.020.
Applicability—1995 2nd sp.s. c 9 §§ 1 and 2: “Sections 1 and 2 of this act are effective for taxes levied for collection in 1996 and thereafter.” [ 1995 2nd sp.s. c 9 § 6.]
Effective date—1995 2nd sp.s. c 9: “This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect July 1, 1995.” [ 1995 2nd sp.s. c 9 § 7.]