Business Income

Source: City of Seattle Department of Finance and Administrative Services (March 2012)

Key Findings

In 2011, businesses generated $53.8 billion in taxable revenues. Citywide taxable business income increased by 2.9% between 2010 and 2011 (Ex. 1-1).

Seattle-based businesses generated $43.2 billion in taxable income in 2011, 80% of all business income reported in Seattle. Businesses based outside of Seattle reported $10.6 billion in income earned from activity and transactions within Seattle. Out-of-town businesses account for approximately 20% of revenues reported in the City.

Total business income generated by tax-paying businesses increased by 3.3% in the same period. Sectors with projected 2011 revenue growth include all sectors except FIRE (finance, insurance and real estate).

Notes:

• 2010 Q4 data has been revised to reflect new estimates. Quarterly data is controlled to annual taxable income estimates provided by Seattle Department of Finance and Administrative Services.
• 2011 Small Business Taxable Income reflects only data collected to date.