Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
Washington Department of Revenue to administer capital gains tax while state court case is pending Because the Washington Supreme Court (Court) granted Washington State’s motion to stay the trial court’s decision that Washington’s new capital gains tax is an income tax and therefore unconstitutional under the Washington State Constitution pending the Court’s final decision, the Washington Department of Revenue may now accept capital gains returns and collect taxes while the Court’s case is pending.
This Multistate Tax Alert discusses Washington’s new capital gains tax and surrounding controversy and provides some related taxpayer considerations. [Issued: January 26, 2023] More
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