HomeStreet, Inc. et al v. State of Washington Department of Revenue

Gregg D Barton

Case Conclusion Date: June 18, 2009

Practice Area: Tax

Outcome: Decision for HomeStreet.

Description: Department of Revenue had been denying banks the right to deduct retained servicing fees from their B&O tax base for "amounts derived from interest." The State Supreme Court has held that such retained servicing fees are deductible, reversing both the Court of Appeals and trial courts.