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News
DC Council Punts Wealth Tax Debate to the Fall
2+ mon, 1+ week ago (815+ words) The DC Council plans to consider a wealth proceeds tax in September, rather than this summer. by Kennith RaShaun Woods II The fight for a wealth proceeds tax in Washington, DC lives on, at least for now. Instead of floating…...
Entrepreneurs continue exodus as Washington state’s new income tax looms
3+ mon, 4+ week ago (769+ words) (The Center Square) - “Everybody is Washington AI startup entrepreneur Jesse Proudman said in a Thursday interview with The Center Square that he's had enough, and he's not alone. The Venice.ai founder and CTO said he’s looking at potentially Texas,…...
WA Supreme Court to consider Let's Go Washington lawsuit challenging 'millionaires tax"
5+ mon, 6+ day ago (680+ words) Washington’s Supreme Court has agreed to weigh in on the constitutionality of a portion of the recently passed income tax on high earners, also known as the “millionaires tax.” The law includes a clause that prevents it from being repealed…...
Lawsuit argues Washington’s new 9.9% millionaires tax violates state constitution
5+ mon, 1+ day ago (279+ words) OLYMPIA, Wash. — The so-called "millionaires tax" is being challenged from several avenues now that it’s signed into law. The law is a 9.9% personal income tax on anyone or household earning more than a million dollars annually, with the first million…...
Washington’s millionaire tax targets the rich with hefty 9.9% hit — but an obscure 1933 Supreme Court ruling could blow the whole thing up
5+ mon, 1+ week ago (665+ words) The state of Washington is steadily progressing toward a millionaire tax after Democratic Governor Bob Ferguson signed Senate Bill 6346 (1) on March 30. The new bill will impose a 9.9% tax on households with an income of over $1 million per year. The law…...
Why Washington small business owners are ‘afraid’ of state’s new ‘millionaires tax’
5+ mon, 1+ week ago (1841+ words) SEATTLE—Business owners in Washington state are worried that the recently passed “millionaires tax” will drive economic activity out—and even target them next. “There’s a lot of fear and trepidation with what’s going on in our government when it…...
Washington state’s ‘historic’ millionaire tax takes aim at super-rich – will it succeed?
5+ mon, 1+ week ago (684+ words) As living costs rise, the state where Gates and Bezos made billions is targeting top earners – could other states follow? Noel Frame knows exactly how difficult it is to raise taxes on the ultra-wealthy, because she has been trying to…...
Washington enacts ‘millionaires tax,’ faces swift legal challenge and possible ballot fight
5+ mon, 1+ week ago (638+ words) Washington has approved a new 9.9% tax on income over $1 million, marking the state’s first personal income tax. Opponents plan to challenge the law in court and may push a repeal to voters, arguing it’s unconstitutional. The legal fight is expected…...
Companies leaving Washington after millionaire's tax passage
5+ mon, 3+ week ago (451+ words) (The Center Square) – Businessman Marc Barros says he has left Washington and is taking his Seattle-based company with him because taxes have become too burdensome. “I'm not even a millionaire affected by this tax. But when you add up all…...