On Friday, March 24, 2023, the Washington Supreme Court issued a ruling on the capital gains tax enacted in 2021. In a 7-2 ruling in the Quinn v Washington State case,…..
Tag: WA Capital Gains Tax
Washington State Capital Gains Tax Enacted – Takes Effect January 1, 2022
The Washington State Legislature passed Senate Bill 5096 at the conclusion of the 2021 legislative session, enacting a state capital gains tax, which Governor Jay Inslee signed into law May 4, 2021. The tax is a 7% tax, applicable to net long-term gains on capital assets (stocks, bonds, business interests, and other…