It taxes assets 1% on anything you own over $250 million, per year. If you own $251 million in assets, it would be $10,000 you owe on top of whatever other capital gains.
Note that Washington state has no income tax, so the state legislature is trying to find a way to bring in more funding for things we need.
It taxes assets 1% on anything you own over $250 million, per year. If you own $251 million in assets, it would be $10,000 you owe on top of whatever other capital gains.
Note that Washington state has no income tax, so the state legislature is trying to find a way to bring in more funding for things we need.