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(The Center Square) – A general income tax in Washington state appears to be off the table for now, even as voters retained the state’s capital gains tax by failing to pass Initiative 2109 on ...
Corry noted education priorities are a paramount duty of state government, but said money coming in via other taxes is sufficient. The state constitution bans a state income tax except under rare ...
But in a 5-4 decision the following year, the state Supreme Court struck it down, ruling that a tax on income was a tax on property — and the state Constitution says property taxes must be ...
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.
What Trump is promising is a complete extension of the cuts for individuals of all income levels, included in his 2017 Tax Cuts and Jobs Act, alongside a dizzying array of additional promises from ...
Also, the state of Washington taxes capital gains. That might have changed next year, but voters rejected an initiative to eliminate the taxes. States that tax income but not retirement income ...
In addition to federal income tax collected by the United States, most individual U.S. states collect a state income tax. Some local governments also impose an income tax, often based on state income tax calculations. Forty-one states, the District of Columbia, and many localities in the United States impose an income tax on individuals.
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