“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 lack of an individual income tax. The capital gains tax is being challenged in court for violating the state constitution.”
Read More: State Tax Winners and Losers – WSJ »