Assets that meet the state's capitalization policy such as land, improvement to land, easements, buildings, leasehold improvements, vehicles, machinery, equipment, works of art and historical treasures, infrastructure, and all other tangible or intangible assets that are used in state operations and that have initial useful lives extending beyond one year. Capital assets do not include depletable resources such as minerals or timber.
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Assets that do not meet the state's capitalization policy but that an agency considers particularly vulnerable to loss, thus subject to special property control. At the University, this includes all weapons, firearms, and permanently attached accessories such as rifles, pistols, flare guns, net guns, tasers, rifle scopes, signal guns, line-throwing equipment, and animal control devices.
An identification marker (white tag) that is required to be affixed to all University inventorial and government or agency owned equipment that meets the equipment capitalization threshold and is required to be tracked and inventoried.
Machinery and Equipment Sales Tax Exemption
Equipment purchased for certain University research and development activities may qualify for a sales tax exemption allowed under RCW 82.08.05656, known as the Machinery and Equipment Tax Exemption or "M&E Exemption." The exemption may be applied towards purchases of fixtures, equipment, and support facilities that are an integral and necessary part of pilot scale manufacturing or used directly in University manufacturing or research and development activities as defined in RCW 82.63.010 (16).
Note: Items with a total cost of $200 or more may qualify for this exemption. The M&E Exemption does not tie the tax exemption to the University of Washington's capitalization threshold of $5,000.