Washington State Imposes Millionaire Tax

POLITICS: Guess what happened when Washington state rolled out a steep new income tax

When Washington state Democrats passed a new income-tax bill in March, the disastrous impacts started even before Gov. Bob Ferguson signed it into law. Corporations and big-name entrepreneurs began a mass exodus to avoid the heavy so-called “millionaire’s tax” — a major movement of capital flight. But even as wealth departs the Evergreen State, other Washingtonians are gearing up to fight. Locals love their state — the mountains, the lakes, spec…

Renowned Travel Writer Rick Steves Weighs in on Washington ‘Millionaires Tax’

In a post on Facebook, Steves, who’s built a travel empire that includes a PBS series and guidebooks on European travel, said the high-earners income tax would make way for “shared prosperity.”

Washington State Imposes Millionaire Tax

Washington State Governor Bob Ferguson signed legislation imposing a 9.9% tax on state residents’ income exceeding $1 million. The law will come into force on January 1, 2028, and tax collection will begin in 2029. According to the Wall Street Journal, expected revenue from the new tax will exceed $3 billion a year. Proceeds from […]