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This image or media file may be available on the Wikimedia Commons as File:Washington State Department of Revenue (logo).svg, where categories and captions may be viewed. While the license of this file may be compliant with the Wikimedia Commons, an editor has requested that the local copy be kept too.
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.
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]
[1] [2] The initiative would have repeal SB 5096, which created a 7% capital gains tax on the sale of long-term capital assets (i.e. stocks, bonds and business interests) worth more than $250,000 in Washington state since 2021. Real estate sales are already exempt from the tax.
However, Nevada, Ohio, and Washington impose a gross receipts tax while Texas has a franchise tax based on "taxable margin", generally defined as sales less either cost of goods sold less compensation, with complete exemption (no tax owed) for less than $1MM in annual earnings and gradually increasing to a maximum tax of 1% based on net revenue ...
The Washington district courts (of counties) and Washington municipal courts (of cities and towns) are courts of limited jurisdiction which hear cases involving misdemeanor crimes, traffic, non-traffic, and parking infractions, domestic violence protection orders, civil actions of $75,000 or less, and small claims of up to $5,000. [12]