Washington State Capital Gains, Er, Excise Tax
TrustBank
MARCH 27, 2023
As some of you may recall, the Washington state legislature had passed a 7% tax on capital gains on the sale of certain assets. This was to start January 1, 2022. Before it could take effect a trial court in Douglas County ruled that this was an invalid income tax in the state of Washington. Let’s dig deeper.
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