Posts in the News Category

State Tax Winners & Losers (Washington moves from 15th to 28th)

“The bad example is Washington state, which fell to 28th from 15th. The state’s new 7% levy on some capital gains isn’t adjusted for inflation, which means the bite will increase over time. The report notes that Washington’s “aggressive gross receipts tax and high-rate sales tax, has always been” offset in the ranking by its […]

AG Asks Washington Supreme Court to Allow Capital Gains Collection Before It Rules on Tax

“Washington state’s capital gains tax has been ruled unconstitutional. The state attorney general is petitioning the Washington Supreme Court to allow its collection anyway, pending appeal.” “Lawmakers could have acknowledged from the beginning that the IRS and every other state in the country unequivocally say that a capital gains tax is an income tax. Instead, […]

Washington Ranks No. 2 on New List of Top States for Business

“Washington’s economic profile page notes the state does not have individual income tax but did pass a 7% capital gains tax that was passed by lawmakers in April but is now in legal limbo as it heads to the state’s Supreme Court.” Read More: Washington ranks No. 2 on new list of top states for […]

S&P Says Credit Strength for Washington Is No State Income Tax

S&P states, “The ratings reflect our view of Washington’s: Sales tax-based revenue structure, which has demonstrated less sensitivity to economic cycles than income tax-reliant states…” Read the full article: S&P Says Credit Strength for Washington Is No State Income Tax »

Q&A With Rob McKenna Hosted By Jason Mercier

“Income tax proponents have spent many years trying to get the Washington Supreme Court to overturn a century of law holding that, under the state constitution, graduated income taxes are unconstitutional. In our democracy, any change in settled law that is based on our constitution’s plain language should be by vote of the people, not […]