Bill
SB 6248
Modifying the capital gains tax under chapter 82.87 RCW and related statutes by closing loopholes, repealing and replacing the business and occupation tax credit with a capital gains tax credit, clarifying ambiguities and making technical corrections in a manner that is not estimated to affect state or local tax collections, treating spouses and domestic partners more consistently, modifying and adding definitions, creating a good faith penalty waiver, and modifying the publication schedule for inflation adjustments.
2023-2024 Regular Session
Introduced by Joe Nguyen and 4 co-sponsors
Washington bill closes capital gains tax loopholes and replaces B&O credit with capital gains credit while treating spouses equally, maintaining revenue neutrality through technical adjustments.
First reading, referred to Ways & Means.