Lawsuit filed to overturn Washington capital gains tax
Just days after the Washington Legislature gave final approval to a new capital gains tax aimed at the state s wealthiest residents, the conservative Freedom Foundation has filed a lawsuit on behalf of five individuals and one couple to overturn the tax.
In the complaint filed Wednesday in Douglas County, Washington, lawyers for the plaintiffs said the 7 percent tax on gains above $250,000 from the sale of such things as stocks and bonds is an unconstitutional income tax. They also said it violates the Commerce Clause of the U.S. Constitution. [R]egardless of your political orientaton or whether the tax personally impacts you, it is important to stand up to object when the constitution is violated, said Callie Castillo, an attorney for the Lane Powell law firm in Seattle, in a statement.
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Originally published on April 28, 2021 5:00 pm
Just days after the Washington Legislature gave final approval to a new capital gains tax aimed at the state s wealthiest residents, the conservative Freedom Foundation has filed a lawsuit on behalf of five individuals and one couple to overturn the tax.
In the complaint filed Wednesday in Douglas County, Washington, lawyers for the plaintiffs said the 7 percent tax on gains above $250,000 from the sale of such things as stocks and bonds is an unconstitutional income tax. They also said it violates the Commerce Clause of the U.S. Constitution.
Lawsuit filed to overturn Washington capital gains tax
Just days after the Washington Legislature gave final approval to a new capital gains tax aimed at the state s wealthiest residents, the conservative Freedom Foundation has filed a lawsuit on behalf of five individuals and one couple to overturn the tax.
In the complaint filed Wednesday in Douglas County, Washington, lawyers for the plaintiffs said the 7 percent tax on gains above $250,000 from the sale of such things as stocks and bonds is an unconstitutional income tax. They also said it violates the Commerce Clause of the U.S. Constitution. [R]egardless of your political orientaton or whether the tax personally impacts you, it is important to stand up to object when the constitution is violated, said Callie Castillo, an attorney for the Lane Powell law firm in Seattle, in a statement.
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