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[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. [1] [3]
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.
Black Mountain Ranch, a 3,600-acre working cattle/horse ranch that combines 63 parcels in Ojai, just hit the market for $100 million. Black Mountain Ranch, a 3,600-acre working cattle/horse ranch ...
The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, [1] and by municipal governments in West Virginia and Kentucky. [2] It is a type of gross receipts tax because it is levied on gross income, rather than net income.
Real estate transfer taxes have become controversial in some U.S. jurisdictions seeking to increase transfer taxes on higher end property sales to help combat issues like homelessness. 2022's Chicago's Bring Chicago Home initiative, seeks to increase transfer taxes on $1 million transactions by 253% or t o 2.65% or $26,500 per million dollar of ...
Black Mountain Ranch encompasses 5,100 acres (21 km 2) and is located north of Rancho Peñasquitos and Torrey Highlands, south of the Santa Fe Valley, east of Fairbanks Ranch and Rancho Santa Fe, and west of 4S Ranch. The development of Black Mountain Ranch took over 17 years to complete and was led by Fred Maas, [1] a local San Diego ...