Washington State's New Tax on High Earners
Seattle Mariners News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Washington States New Income Tax Targets High-Earners: A Potential Impact on Seattles Pro Sports Teams
Washington Governor Bob Ferguson is set to sign a new bill imposing a 9.9% tax on household incomes over $1 million, starting in 2028. This targets high earners like Seattles pro sports team players and college athletes with seven-figure name, image, and likeness deals. The state, previously one of just nine without an income tax, may face recruiting challenges as team executives worry about the impact on player salaries and endorsements. High-tax states still build winners, but the new tax could add complexity to recruiting and player contracts.
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