Washington Administrative Code (Last Updated: November 23, 2016) |
Title 208. Financial Institutions, Department of (See Titles 50, 419, and 460) |
Chapter 208-690. Regulation of money services providers. |
Section 208-690-140. How is the annual assessment calculated and when is the annual assessment due?
Latest version.
- (1) The annual assessment is calculated by multiplying 0.0004 by the previous year's adjusted Washington volume of money transmission, currency exchange, stored value sales, and payment instrument sales, with a minimum assessment of one thousand dollars and a maximum assessment of one hundred thousand dollars.For purposes of this section, "adjusted Washington volume" means:(a) For money transmission, ninety-five percent of all funds transmitted;(b) For currency exchange, five percent of all currency exchanged;(c) For stored value sales, ninety-five percent of all funds loaded onto open-loop stored value devices; and(d) For payment instrument sales, seventy percent of the first ten million dollars of payment instrument sales, twenty percent of the volume over ten million through five hundred million dollars, and one percent of any amount over five hundred million dollars.(2) The annual assessment is due no later than 5:00 p.m. July 1st each year or the next business day if July 1st is not a business day.[Statutory Authority: RCW 43.320.040 and 19.230.310. WSR 16-14-022, § 208-690-140, filed 6/27/16, effective 8/1/16; WSR 13-24-021, § 208-690-140, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040, chapter 19.230 RCW, and 2010 c 73. WSR 10-12-038, § 208-690-140, filed 5/25/10, effective 6/25/10. Statutory Authority: RCW 19.230.310 and 43.320.040. WSR 04-15-005, § 208-690-140, filed 7/7/04, effective 8/7/04.]
RCW 43.320.040 and 19.230.310. WSR 16-14-022, § 208-690-140, filed 6/27/16, effective 8/1/16; WSR 13-24-021, § 208-690-140, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040, chapter 19.230 RCW, and 2010 c 73. WSR 10-12-038, § 208-690-140, filed 5/25/10, effective 6/25/10. Statutory Authority: RCW 19.230.310 and 43.320.040. WSR 04-15-005, § 208-690-140, filed 7/7/04, effective 8/7/04.