Washington State's New Millionaire Tax
Seattle News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Washington State Introduces Millionaire Income Tax, Sparking Legal Challenges
Washington Governor Bob Ferguson signed a bill imposing a 9.9% income tax on households earning over $1 million, aiming to raise $3 billion annually from around 21,000 filers. This marks a significant shift for the state, which previously had no income tax on wages. The bill, which also includes tax relief for low-income families and small businesses, faced opposition and is expected to face legal challenges.
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