Washington Enacts Excise Tax on Gains from the Sale or Exchange of Certain Capital Assets
By EsqSocial Corporation 29/04/21
Over the weekend, the Washington State Legislature passed a bill that would enact a tax on gains from the sale or exchange of certain capital assets. The bill, which was signed into law by Governor Jay Inslee on April 27, 2021, imposes a 7% tax on the gain from the sale of stocks, bonds, and other capital assets in excess of $250,000 for individuals and married couples (regardless of whether they file joint or separate returns) to fund K-12 education, early learning, and child care beginning in...
By: Schwabe, Williamson & Wyatt PC