WAC 296-17-87301. Definitions

The definitions in this section shall apply throughout WAC 296-17-873 through 296-17-87306 . (1) "Entity" means an individual, partnership, corporation, limited liability company, professional limited liability company, unincorporated association, or fiduciary operation (e.g. trust, receivership, or estate of deceased individual). (2) "Majority interest" means more than 50 percent ownership in the firm (business). If the owners of the firm (business) are a partnership, majority interest means more than 50 percent of the general partners' ownership in the firm (business). Majority interest in a partnership shall be determined in proportion to the general partners' ownership of the firm (business). For example, in a three-way partnership … partner A owns 20 percent of the business, partner B owns 20 percent of the business, and partner C owns 60 percent of the business … if partner A sold his/her share of the business, a majority interest still exists as partners B and C retain a majority interest (80 percent) in the firm (business). Limited partners shall not be considered to have an ownership interest for purpose of these rules. (3) "Joint venture" means a combination of two or more entities, entered into for the purpose of carrying to completion a specified job of limited duration. (4) "Employee leasing entity" means a firm (business) which provides workers on a long-term basis to another firm.