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The two cases were consolidated and, on March 2, 2022, Douglas County Superior Court Judge Brian Huber sided with the plaintiffs and struck down the capital gains tax as an illegal income tax. [14] On appeal, the state Supreme Court overturned the district court ruling in a 7–2 decision, upholding the constitutionality of the capital gains ...
A 2024 post from Senate Democrats in support of a wealth tax in the form of Senate Bill 5486 said proceeds would be “dedicated to education, housing, disability services, and tax credits for ...
The tax collected more than $890 million in revenue in its first year, [23] significantly exceeding the approximately $500 million in revenue initially projected. [24] The Department of Revenue projects the tax will bring in over $5 billion over the next 6 years. [25] Fewer than 4000 people pay the tax, [3] and 85% of the revenue comes from ...
Rather, different types of businesses are taxed at different rates, depending upon their classification by the Washington State Legislature and the Washington State Department of Revenue. [3] [4] Service industry businesses have the heaviest tax burden, with a tax rate of 1.5%, more than triple the other major classifications.
The state treasurer is the chief banker, financier, and investment officer for the state of Washington. [5] In this capacity, the state treasurer receives payments made to the state, accounts for and manages the state's cash flows, and disburses public monies in redemption of warrants drawn by state agencies. [6] [7] [8] The state treasurer is ...
For the 2023-2024 budget, sales tax is expected to generate $147.1 million, which is the city’s largest revenue source, followed by property tax at $135.5 million, business tax at $120.6 million ...
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