On March 24, the Washington Supreme Court upheld the state’s capital gains tax as an excise tax, making it legal. The state legislature passed the capital gains tax in 2021, and Governor Jay Inslee signed it into law. The tax enacted a seven percent capital gains tax...
The Washington 7% tax on capital gains in excess of $250,000 went into effect January 1, 2022. During the year the courts ruled the tax as unconstitutional and invalid. The State has appealed the ruling to the Washington Supreme Court. While the appeal is pending...
