Washington concluded an eventful legislative session with the largest set of tax increases in the state's history. This Update focuses on two significant changes that affect Washington residents and a senate bill proposal...more
6/4/2025
/ Capital Gains Tax ,
Estate Planning ,
Estate Tax ,
New Legislation ,
Proposed Legislation ,
State Taxes ,
Tax Policy ,
Tax Rates ,
Tax Reform ,
Washington ,
Wealth Tax
The Washington Court of Appeals has held that investment funds are subject to Washington state business and occupation (B&O) tax on their investment income. Although Washington law allows taxpayers to deduct “amounts derived...more
8/7/2023
/ Emerging Growth Companies ,
Estate Planning ,
Income Taxes ,
Investment ,
IRS ,
Net Investment Income ,
State and Local Government ,
Trusts ,
Venture Capital ,
WA Supreme Court ,
Washington
Transfers of real property to certain qualifying entities will no longer be subject to real estate excise tax in Washington State, effective on January 1, 2023. The Washington State Legislature passed Engrossed House Bill...more
6/17/2022
/ Affordable Housing ,
Covered Entities ,
Excise Tax ,
Income Taxes ,
IRS ,
Low Income Housing ,
New Legislation ,
State and Local Government ,
State Taxes ,
Tax Exemptions ,
Washington