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Unique_Engineering_3 t1_jdlf5nc wrote

Reply to comment by Allmyfinance in Washington Supreme Court upholds new capital gains tax by Bozzooo

> They are trying to lower it already to 15k fyi. Section https://lawfilesext.leg.wa.gov/Biennium/2023-24/Pdf/Bills/Senate%20Bills/5335.pdf

u/Allmyfinance, you linked a bill related to health care. Where is the $15,000 level you reference in the bill you linked.

You don’t just blindly post a link without knowing what was in it, did you? 🤷‍♂️

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Allmyfinance t1_jdlfim1 wrote

Section 309 “NEW SECTION. Sec. 309. PERSONS REQUIRED TO FILE A STATE RETURN. 33 (1) Only individual and joint taxpayers with federal net long-term 34 capital gains or net earnings from self-employment of sole 35 proprietors in excess of $15,000 on their federal tax return are 36 required to file a capital gains tax return with the department..”

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Unique_Engineering_3 t1_jdlfruy wrote

> Section 309 “NEW SECTION. Sec. 309. PERSONS REQUIRED TO FILE A STATE RETURN. 33 (1) Only individual and joint taxpayers with federal net long-term 34 capital gains or net earnings from self-employment of sole 35 proprietors in excess of $15,000 on their federal tax return are 36 required to file a capital gains tax return with the department..”

Do you understand the difference between FEDERAL taxes and STATE taxes? 🤷‍♂️

The current law at the WASC has a $250k/yr+ trigger for STATE taxes. Your section above does not counter that.

The bill you linked and cited is all about healthcare—it has f✨k all to do with the STATE capital gains tax that is being discussed.

Some rich guy’s PR team is doing a great job of getting the people that won’t pay the capital gains scared of this tax though.

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