SAVE THE DATE:
2020 Dealership Day will be Tuesday, February 4th.
Thank you 2019 Dealership Day attendees!
Thank you to all the dealers and dealership employees who participated in Dealership Day 2019. Facing the imminent threat of massive increases in B&O tax rates and a potential capital gains tax, a record number of attendees came to Olympia for 135 legislative appointments. Specifically, Washington new car and truck dealers and dealership employees met with state legislators to discuss:
1. The unfair impact of the B&O tax. Even at the current B&O tax rates, the average Washington dealership pays $318,400 in B&O taxes annually, for an effective income tax of 24%. That’s twice the rate of the next highest state, California, which has a top income tax bracket of “just” 13.3%.
2. Imposing a capital gains tax would aggravate an already unfair tax burden. A capital gains tax of 7% would add $542,500 in additional taxes for the average dealership. Dealerships are already “pre-paying” the capital gains tax because the outsized B&O tax burden means they pay more in B&O tax alone than dealerships in other states pay in income and capital gains tax combined.
3. Dealers support tax reform discussions. WSADA supports tax reform efforts that focus on tax relief for low-margin businesses. While a recent bill that would have formed a bipartisan workgroup to study the issue has not advanced, legislators continue to discuss the issue.
Thank you to Diamond level sponsor attendees Cole Gorman with American Financial & Automotive Services, Inc., Bob Evans and Roger Encarnacion with Ethos Group, Rob Preston with Zurich and our Grassroots-level sponsor attendee Stephen Anthis with American Fidelity.
*Gary Gilchrist was unable to attend but scheduled separate personal appointments prior to Dealership Day.
- American Financial and Automotive Services, Inc.
- Bank of America Merrill Lynch
- Comcast Spotlight
- Cox Automotive
- Ethos Group
- Federated Insurance
- Integrated Claims Management, Inc. (ICM)
- PayneWest Insurance
- Peterson Sullivan LLP
- American Fidelity Assurance Company
Congratulations to our Dealership Day winners, who won some amazing prizes:
DEALERSHIP DAY ATTENDEE GRAND PRIZE:
5-night stay in a suite at the Grand Hyatt Kauai during the 2019 WSADA Convention
Steve Hahn, Steve Hahn’s Volkswagen-Kia-Mercedes Benz
DEALERSHIP DAY ATTENDEE PRIZES:
1 Pair of tickets to see Carrie Underwood
Tami Rose, Wilder Auto
2 sets of tickets to see Thomas Rhett
Winner #1: Dale Rose, Wilder Auto
Winner #2: Monte Phillips, Vancouver Ford
One-night deluxe accommodations at the Fairmont Olympic and two tickets to opening night of Urinetown– a 5th Avenue Production
Fran Amend, Chipman & Taylor Chevrolet
Trip to the movies for 10 people at Majestic Bay Theater
Mike Bickford, Bickford Motors