Cashmere Valley Bank v. Dept. Of Revenue, State Of Wa

FIL COURT OF APpPALS MviSlott 1013 JUL - AM Q: Q8 IN THE COURT OF APPEALS OF THE STATE OF W. 1 * kq' " . DIVISION II By U CASHMERE VALLEY BANK, No. 42514 9 II - - Appellant, V. STATE OF WASHINGTON DEPARTMENT PUBLISHED OPINION OF REVENUE, PENOYAR J. — The Washington State Department of Revenue (Department) audited Cashmere Valley Bank (Cashmere) for the years 2004 through 2007 and assessed additional business and occupation (B O) for interest income Cashmere had received on investments in & tax real estate mortgage investment conduits (REMICs) and collateralized mortgage obligations CMOs).…