Lee B Posted April 29, 2021 Report Share Posted April 29, 2021 The Senate passed a new excise tax on capital gains which was sent to Governor Inslee for signature on 4/27. This new bill would apply to both: Washington residents with long-term capital gains Out-of-state resident’s capital gains arising from the sale of tangible personal property located in Washington State. 1 Quote Link to comment Share on other sites More sharing options...
Corduroy Frog Posted May 2, 2021 Report Share Posted May 2, 2021 Mr. Lee, you do a great job of bringing current IRS and other issues to the forefront as soon as they become available. Thanks. 1 Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted May 3, 2021 Report Share Posted May 3, 2021 The bill is full of exemptions from special interest lobbyist including: real estate, auto dealerships (goodwill), timber, agriculture and other "small business". There is a $250,000 general exemption. Sounds like the main target will be sales of stock, bonds,...etc. I have a few Washington clients that were former Oregon residents, most likely they will not feel the 7% sting. 1 Quote Link to comment Share on other sites More sharing options...
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