Why pay state income tax when you can leave a democrat hellhole AND not pay income tax AND not step in poop on your sidewalks? And not live in a high crime war zone? Bezos has made the right decision for himself and his employees.
Washington state has no state income tax, which is why we have a disproportionate share of USA billionaires.
However, in 2022, we just had our first year of capital gains tax on stocks, sale of a business, and other investments.
The Washington state Constitution forbids any form of income tax.
No problem for the Washington state Supreme Court!
The Court decided that capital gains on a stock or a business is NOT income!
Our new capital gains tax has a standard deduction of $250,000.
There is a 7% tax on all gains above $250,000.
More creative taxes on capital gains are on the way.
The now totally dominant Democratic Party in Washington state has begun fantasizing out loud about special taxes on entrepreneurs who have NOT sold any of their stock or any part of their business.
You’ve been corrected already on the state income tax, and if you think there’s “high crime” and “poop on the sidewalk” in Medina you’ve got a bigger correction coming.
Well, first, let’s see how he votes and who he supports in 2024 and 2026.