WTO rules against tax break for Boeing 777X jet

Boeing (BA) Says in Response to WTO Ruling That It Expects to Preserve Washington State Incentives

The World Trade Organization (WTO) today rejected virtually all of the European Union's challenges to the Washington state tax incentives.

In today's case, the EU challenged seven different state tax incentives. The WTO rejected entirely the EU's challenge to six of the seven incentives and rejected most of the challenge to the seventh. The WTO held only and narrowly that a reduction in Washington state's Business and Occupancy (B&O) tax rate for future 777X revenues is inconsistent with the WTO agreements. The WTO threw... More