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The initiative was brought to the state legislature by Let's Go Washington, a Redmond-based political action committee founded by businessman and hedge-fund manager Brian Heywood. [1] [2] The initiative would have repeal SB 5096, which created a 7% capital gains tax on the sale of long-term capital assets (i.e. stocks, bonds and business ...
State legislators in Washington state have a big budget challenge ahead of them. ... including imposing a new capital gains income tax. ... The best gift experiences of 2024 — Coffee tasting ...
While it did lower marginal income tax rates across the board, reducing the top rate from 39.6 percent to 37 percent, it also capped the deduction for state and local taxes (SALT) at $10,000 annually.
(The Center Square) – Democrats in the Washington State Legislature have been hinting that tax increases will be necessary to deal with a projected operating budget deficit of between $10 ...
2024 Washington Initiative 2109 – Proposed repeal of state capital gains tax 2024 Washington Initiative 2117 – Proposed repeal of state carbon tax cap and trade laws 2024 Washington Initiative 2124 – Proposal to make employee participation in state long-term care program voluntary
In March 2022, a Douglas County Superior Court judge sided with the plaintiffs ruling that the tax was an income tax [31] and therefore unconstitutional in Washington State. This ruling was overturned by the Washington State Supreme Court in March 2023, which ruled that the tax was an excise tax, rather than an income tax. [24]
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