Taxpayers Vent Over Washington’s Capital Gains Tax

Taxpayers expressed broad frustration with Washington state’s decision to steam forward with collections of the new capital gains tax despite doubts about the constitutionality of the tax and the state’s inability to provide clear guidance on the program.

Roughly 60 taxpayers, accountants, and tax consultants peppered the Department of Revenue with questions Tuesday during a public hearing about proposed rules implementing Washington’s capital gains excise tax. In many cases, a department official declined to fully answer questions about the 7% levy on gains above $250,000 per year, or suggested taxpayers submit written questions that the department could ...