Kitsap offers a favorable tax environment for business and citizens
As part of the state of Washington, Kitsap County offers an extremely favorable tax environment for business and citizens. Washington state ranks fifth highest on the Small Business Survival Index 1 and requires a two-thirds legislative majority to raise taxes.
- does not have a personal or corporate income tax;
- does not have an inventory tax;
- does not impose a tax on intangible assets, such as bank accounts, stocks, or bonds and
- does not assess any tax on retirement income earned and received from another state.
Incentives for Relocating & Expanding Companies
Kitsap County provides relocating and expanding companies’ incentives that provide assistance with those efforts. The list of incentives is various and flexible, applying to multiple sectors and business types.
OPPORTUNITY ZONES – The Cities of Bremerton and Port Orchard have a total of 3 areas under this new program providing investors opportunities to defer taxes on capital gains.
HUBZones – There are a total of three qualified HUBZones in Kitsap County, plus the Port Gamble S’Klallam Reservation and the Port Madison Reservation.
FOREIGN TRADE ZONE – More than 500 acres of land in Kitsap County at the Port of Bremerton’s industrial park are part of FTZ 216.
WORKFORCE DEVELOPMENT – State and local programs are in abundance to assist your company in finding or training the workforce you need.
TAX INCENTIVES – WA state offers several tax incentives that make it an attractive place to do business.
Additionally, Puget Sound Industrial Center – Bremerton (PSIC-B), (Kitsap County’s designated manufacturing industrial center) offers developers multiple incentives via the Certified Evergreen Building Permit Fee Rebate Program.
SKIA/PSIC-B – Evergreen Building Permit Fee Rebate program supports the City’s goals for sustainable development, reduced greenhouse gas emissions, conservation of natural resources and increased energy efficiency through a financial incentive.
Pilot Program – The SKIA Evergreen Building Permit Fee Rebate program is a pilot program that is limited to the SKIA Subarea only. The City of Bremerton will assess the effectiveness of this program and, depending on the observed outcomes, may amend the program in the future, including possible expansion to other parts of the city. The City of Bremerton is providing an optional financial incentive commensurate with public benefits. New SKIA Evergreen Certified developments may be eligible for a rebate between 75% and 100% in building permit fees only.