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Muni bonds are a more attractive option for investors in high-tax states and cities, so investors in those areas should be sure to calculate the tax-equivalent yield on potential muni investments ...
Washington has a 6.5% statewide sales tax. [208] Local rates vary based on an individual's location at the point of purchase and can total up to 3.1% for a combined rate of 9.6%. [208] In addition, due to the large number of Native American reservations located within the state, sales-tax rates, if any, can vary based on state treaties with ...
Prior to the passage of the capital gains tax, Washington State had the most regressive tax system of any state in the US. [9] The wealthiest 1% paid just 3% of their income in state taxes, while the poorest 20% paid 17.8%. [10] Advocates had long proposed a capital gains tax in order to help reduce this gap.
State law generally sets the conditions under which a local government can issue general obligation debt, including the type of security that is available: A limited-tax general obligation pledge requires a local government to levy a property tax sufficient to meet its debt service obligations but only up to a statutory limit.
(The Center Square) – The Seattle City Council has rejected a proposed local capital gains tax, but the bill could be brought back as soon as early next year. Council Bill 120908 would have ...
Interest income from most municipal bonds is excludable from gross income for federal income tax purposes, and may be exempt from state income tax as well, depending on the applicable state laws. [14] Internal Revenue Code section 103(a) is the statutory provision that excludes interest on municipal bonds from federal income tax. [15]
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Alaska – no individual tax but has a state corporate income tax. Alaska has no state sales tax, but lets local governments collect their own sales taxes. Alaska has an annual Permanent Fund Dividend, derived from oil revenues, for all citizens living in Alaska after one calendar year, except for some convicted of criminal offenses. [9]
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