Income tax

Following weeks of speculation about what he might do when it reached his desk, Gov. Bob Ferguson has now signed the so-called millionaires tax into law.

Lawmakers in Olympia have introduced legislation to tax the income of highly paid hospital administrative employees. Democrats have also introduced legislation that would increase the capital gains tax rate and lower the value exemption even before the State Supreme Court issued a final ruling on last month.

The Freedom Foundation released a statement heading into the weekend.

It's not an exaggeration. The Washington State Supreme Court began hearing arguments today on whether SB 5096, passed in 2021, is Constitutional.

Some of the parties in favor of the tax might surprise you

Even a 30-year former IRS national veteran attorney says WA State's capital gains tax is an income tax.

The Department of Revenue has been quiet, or neutral on the issue, until court filing.

OLYMPIA, Wash.- Lawmakers in Washington are arguing that a proposed capital gains tax is not an income tax… but rather an excise tax, or tax on goods.   "Having talked with the IRS and every single revenue director in the country, there is not a single tax authority that says that taxing income is an excise tax," says Jason Mercier with the Washington Policy Center.   He add ... Read