OLYMPIA, Wash. (AP) — Washington Gov. Jay Inslee has signed into law a new capital gains tax on high profit stocks, bonds and other assets. A legal challenge against the tax has already started, with one lawsuit filed last week and another expected. The measure imposes a 7% tax on the sale of stocks, bonds, and other high-end assets in excess of $250,000 for both individuals and couples, and is expected to bring in $415 million in 2023, the first year the state would see money from the tax, which would start in January 2022. Also Tuesday, Inslee signed a bill that expands a tax credit for low-income workers and families that would start paying out benefits for the first time in 2023.
Amid legal challenge, capital gains tax signed into law
