Washington state capital gains tax marches on: What the new law would do, and who is affected
April 22, 2021 at 3:00 pm
The Washington state Capitol in Olympia is pretty quiet these days as legislators work from home. (GeekWire Photo / John Cook)
Washington state legislators this week approved a new tax on capital gains. But the bill, SB 5096, was held up in the state Senate late Thursday where it must pass by Sunday to get the governor’s signature.
The ongoing argument around the legislation is centered around whether the tax is a necessary way to help level the playing field among taxpayers in Washington state, or whether the action amounts to an unconstitutional state income tax that would ultimately drive businesses and entrepreneurs out of state.
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