Court's capital gains ruling disappoints
March 30, 2023
Ever since legislative Democrats passed a law (Senate Bill 5096) two years ago creating a capital gains state income tax in Washington, observers on both sides of the political aisle have been waiting for the controversial law to make its way to the state Supreme Court, where the court’s nine justices would decide whether the law was constitutional.
Following a hearing in late January, the Supreme Court on March 24 issued its ruling, one that has opponents of this tax shaking their heads in disbelief. The court upheld the constitutionality of Washington’s capital gains tax.