(1) A local exchange company or radio communications service company shall file tax returns on a cash receipts or accrual basis according to which method of accounting is regularly employed in keeping the books of the company. A local exchange company or radio communications service company filing returns on a cash receipts basis is not required to pay tax on debt subject to credit or refund under subsection (2) of this section.

     (2) A local exchange company or radio communications service company is entitled to a credit or refund for state enhanced 911 excise taxes previously paid on bad debts, as that term is used in 26 U.S.C. Sec. 166, as amended or renumbered as of January 1, 2003.

[2004 c 153 § 309; 1998 c 304 § 7.]

NOTES:

     Retroactive effective date -- Effective date -- 2004 c 153: See note following RCW 82.08.0293.

     Findings -- Effective dates -- 1998 c 304: See notes following RCW 82.14B.020.