Washington State doesn’t have personal or corporate income tax.
“Washington State doesn’t have personal or corporate income tax.”
I did not know that.
I am surprised to learn a state can be destroyed without confiscatory taxation.
In May of 2021, Washington Governor Jay Inslee (D) signed legislation (ESSB 5096) enacting a capital gains tax equal to 7% of a Washington resident’s adjusted long-term capital gains. Effective January 1, 2022, this new tax applies only to individuals, including owners of pass-through entities and disregarded entities.
In 2020, Seattle Democrat politicians passed a new tax on salaries:
https://www.seattletimes.com/seattle-news/politics/seattle-city-council-passes-new-jumpstart-tax-on-high-salaries-paid-by-big-businesses/
Jeff Bezos bailed out before Seattle could ensnare him in a proposed capital gains tax:
https://www.geekwire.com/2023/seattle-considering-its-own-capital-gains-tax-following-new-state-law/