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(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 ...
(The Center Square) – Seattle officials worry that implementing a local capital gains tax would coax wealthy residents to change their home addresses. Seattle City Councilmember Cathy Moore is ...
The tax collected more than $890 million in revenue in its first year, [23] significantly exceeding the approximately $500 million in revenue initially projected. [24] The Department of Revenue projects the tax will bring in over $5 billion over the next 6 years. [25] Fewer than 4000 people pay the tax, [3] and 85% of the revenue comes from ...
The California Franchise Tax Board says: “California taxes capital gains as an income tax and they are taxed at the same rate as ordinary income.” Other countries also agree with the IRS.
[20] [21] In July 2017, the Seattle City Council approved an income tax on Seattle residents, making the city the only one in the state with an income tax, [22] but it was ruled unconstitutional by the King County Superior Court. [23] The Court of Appeals upheld that ruling [24] and the Washington Supreme Court declined to hear the case. [25]
The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that have different rates to their respective ...
The combined state and local retail sales tax rates increase the taxes paid by consumers, depending on the variable local sales tax rates, generally between 7.5 and 10 percent. [1] As of March 2017, the combined sales tax rate in Seattle and Tacoma was 10.1 percent. [2]
The Educational Programs and Operations Levy has a current tax rate of 63 cents per $1,000 in assessed value. This means a median home worth $877,694 would pay $552 a year toward the levy.