Washington state lawmakers pass high-income earners tax
Quick Insights
The Bottom Line
Washington state lawmakers passed a 9.9% annual tax on personal earnings over $1 million.
How This Affects You
If you are a high-income earner in Washington state, you will pay a new 9.9% tax on earnings over $1 million.
AI Summary
Washington state lawmakers on Wednesday approved a 9.9 percent annual tax on personal earnings over $1 million. This high-income earners tax is projected to generate up to $4 billion annually. The revenue is earmarked for childcare and to eliminate sales taxes on unspecified items.
What's Being Done
Washington state lawmakers approved the tax.
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