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In March 2022, a Douglas County Superior Court judge sided with the plaintiffs ruling that the tax was an income tax [31] and therefore unconstitutional in Washington State. This ruling was overturned by the Washington State Supreme Court in March 2023, which ruled that the tax was an excise tax, rather than an income tax. [24]
If approved, House Bill 1628 would make WA’s excise tax on housing the highest rate in the country. | Guest Opinion WA already lacks affordable housing. Hiking real estate excise tax would make ...
If the capital gains tax is found to be an “excise tax,” Washington would be attempting to tax activity that occurs in other states. It is important to remember that no other state has a ...
Seattle City Councilmember Cathy Moore is proposing a local 2% capital gains excise tax that would be applicable to non-retirement financial gains over $250,000. ... the top 20% paid 85.7% of the ...
Excise taxes on tobacco raised $12.4 billion in fiscal year 2020. [2] The tax equals $1.01 per pack of 20 of cigarettes. Federal excise tax revenue from tobacco products peaked in fiscal year 2010 at $17.2 billion after the increase in tobacco product tax rates in the Children's Health Insurance Program Reauthorization Act of 2009. This tax ...
Composition of state and local tax revenues by sales taxes (brown), property taxes (white), licenses and other fees (grey), individual and corporate income taxes (green) in 2007. Determining the value of property is a critical aspect of property taxation, as such value determines the amount of tax due.
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