OLYMPIA, Wash. (AP) — The Washington Legislature has approved a new capital gains tax on high-profit stocks, bonds and other assets. It now heads to Gov. Jay Inslee for his signature. Once signed into law, the measure passed Sunday is certain to face a legal challenge from opponents who say it’s a tax on income that violates the state constitution. The measure would impose a 7% tax on the sale of stocks, bonds, and other high-end assets in excess of $250,000 for both individuals and couples. Retirement accounts, real estate, farms and forestry would be exempt from the proposed tax.
Washington Legislature approves new capital gains tax
