Washington State Rakes In Revenue From Capital Gains Tax (Correct)

Washington state’s new capital gains tax has already exceeded expectations by bringing in $838 million in two days.

Proceeds are more than three times what the state’s Economic and Revenue Forecast Council projected in March, shortly before the first payments were due April 18. The Department of Revenue provided figures as of April 20 reflecting the first two days of payments and taxpayer filings, but cautioned the total will fluctuate until after the Oct. 16 deadline for taxpayers who have received extensions.

Proceeds from the controversial tax are flowing into state coffers less than a month after ...