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Washington State, Department of Revenue, Business Tax 2022

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in this video we'll explain this Washington State long-term capital gains tax and how it applies to you if you don't know who I am my name is Chris dime I'm a certified financial planner out of Edmonds Washington and I specialize in working with folks to and through retirement so on March 24th of 2023 the Supreme Court upheld Washington State's long-term capital gains tax of seven percent and they upheld it as lawful and enforceable so in today's video we'll talk about who's going to need to pay this tax on what assets what's the purpose of this tax where's the money going to and then some future developments and some things to have on the periphery so let's jump in as a quick background starting in 2022 Washington State started enforcing a Washington state capital gains tax on long-term capital gains of seven percent and this seven percent applies to things like stocks bonds business interests Etc and that

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