Lynnwood Today Daily Legislative Report: April 22, 2021 – State income tax

Lynnwood Today presents The Daily Legislative Report, covering the 2021 Washington State Legislature. For two days, House lawmakers debated Engrossed Substitute Senate Bill 5096, which would create a capital gains tax on those selling stocks, bonds, and would apply to sales of businesses. The bill passed the Senate on March 6, by a vote of 25-24. It passed the House 52-46 on April 21. The bill will now go into a matter of concurrence between the Senate and House on amendments, and if passed, will head to the Governor’s office to be potentially signed into law. The legislation is controversial, as it has failed by referendum 10 times and is illegal by state constitution, and will likely wind up as a state Supreme Court matter prior to implementation.

For more information on Senate Bill 5096 – https://app.leg.wa.gov/billsummary?BillNumber=5096&Initiative=false&Year=2021

For more complete information on any legislation, including sponsors, a synopsis, and fiscal note, visit the Washington State Legislature’s bill information webpage: https://apps.leg.wa.gov/billinfo

  1. Odd article. The headline says state income tax but the body says capital gains tax.

    Why doesn’t the state government listen to the people? It was voted down 10 times already. I don’t ever want to hear another crooked elected official say that they’re voting for something because their constituents wanted it. You can’t have it both ways! People have voted this down 10 times!!!!

    Washington State has the highest liquor tax in the nation, one of the highest gasoline taxes, and pretty high sales tax. I don’t want to be like California who has both a states sales tax in addition to a state income tax. It should be one or the other. Tax hikes seem to never end.

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