Washington State Passes New Income Tax for Millionaires
Seattle News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Washington State Poised to Implement New Income Tax: Governor Ferguson to Sign Bill Targeting Millionaires
Washington state is set to approve a new income tax, focusing on earnings over one million dollars annually. Governor Bob Ferguson has announced his intention to sign the updated bill, which includes tax breaks for families and businesses. The tax, expected to generate four billion dollars annually, will fund free breakfast and lunch for K-12 students and child care programs. The nine point nine percent tax will affect around thirty thousand people and take effect in 2028.
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