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The 2021 Washington State Legislature recently passed ESSB 5096 which creates a 7% tax on the sale or exchange of long-term capital assets such as stocks, bonds, business interests, or other investments and tangible assets.
Is day-trading subject to Washington’s capital gains tax? Washington’s capital gains tax generally applies to the sale or exchange of assets that are held for more than one year. This means you may not owe capital gains tax on the sale or exchange of assets you held for a shorter period.
30 Μαρ 2023 · The law imposes a 7% tax on capital gains of more than $250,000 from the sale of stocks, bonds, and other assets. The tax applies to gains made on or after January 2022 and the first payment...
26 Σεπ 2023 · Update: On March 24, 2023, the Washington State Supreme Court determined that the Washington capital gains tax is a constitutional excise tax on the sale or exchange of capital assets and not an income tax prohibited under the Washington constitution. Read more here.
The 2021 Washington State Legislature passed ESSB 5096 (RCW 82.87) which creates a 7% tax on the sale or exchange of long-term capital assets such as stocks, bonds, business interests, or other investments and tangible assets. The tax is effective January 1, 2022, and the first payments for tax year 2022 are due on or before April 18, 2023.
18 Σεπ 2023 · Starting January 1, 2022, Washington state implemented a new capital gains tax that affects individuals. Under this tax, individuals are subject to a 7% tax on their adjusted long-term capital gains that are allocated to Washington.
19 Αυγ 2024 · Washington state’s new capital gains tax targets specific asset sales starting in 2022. It applies to residents and some nonresidents with substantial long-term gains. Learn who is impacted, which assets are taxed, and how to manage potential liabilities.
