Capital Gains Tax Likely Proposed in WA 2021 Legislative Session
If submitted, such a bill would likely trigger a lawsuit which could end up determining whether income is considered property.
House Democrat Noel Frame is the chairman of the State Tax Structure Work Group, she plans to submit a report to the legislature next month on possible changes to the state s tax codes. In past sessions, she has submitted bills that would create a capital gains tax.
Apparently the legislature is also considering replacing the Business and Occupation Tax with a corporate income tax, but the rate would be so high it would be a big obstacle to get over.