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Frustrated by the passage of tax increases from Governor Gregoire despite promises not to raise them, Eyman introduced Initiative 900 to increase the power of the Washington state auditor to conduct performance audits. [47] The initiative was approved by the voters by 56.4%, receiving nearly one million votes. [48]
Reduces the Washington State Sales Tax 1% from 6.5% to 5.5% Reduces the Business and Occupation Tax on Manufacturing Businesses in Washington State to .001% Funds the Working Families Tax rebate program , a 25% match on the state's version of the earned income tax credit for 460,000 Washington households.
The combined state and local retail sales tax rates increase the taxes paid by consumers, depending on the variable local sales tax rates, generally between 7.5 and 10 percent. [1] As of March 2017, the combined sales tax rate in Seattle and Tacoma was 10.1 percent. [ 2 ]
The use tax, like the sales tax, is assessed upon the end consumer of the tangible property or service, but the difference is who calculates the tax and how it is accounted for. The sales tax is collected by the seller, who is acting as an agent of the state and thus remits the tax to the state on behalf of the end consumer.
According to a Congressional Liaison for the IRS, if the capital gains tax is upheld as an “excise tax,” taxpayers may be prevented from deducting it against their federal income tax returns.
The waivers can be extended to up to 10 years and shave millions off a company’s property tax bill. In Phase 1, the French company would invest in a nearly 16,000-square-foot facility that will ...
The truth is Washington’s carbon tax adds about 50 cents to the cost of gasoline per gallon, costing the average driver $250 annually or $500 for a two-driver household. That’s what cap-and ...
Prior to the passage of the capital gains tax, Washington State had the most regressive tax system of any state in the US. [9] The wealthiest 1% paid just 3% of their income in state taxes, while the poorest 20% paid 17.8%. [10] Advocates had long proposed a capital gains tax in order to help reduce this gap.