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New Legislation State Taxes Capital Gains Tax

Frost Brown Todd

Section 1202 and QSBS: A Survey of States That Don’t Conform to the Federal Treatment

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Section 1202 of the Internal Revenue Code provides a capital gains exclusion for certain qualified small business stock (QSBS) when a stockholder sells the same. This gain exclusion impacts venture-backed startups, angel...more

Lasher Holzapfel Sperry & Ebberson PLLC

New Washington Estate Tax Law Raises Exemption, Hikes Rates for Wealthy

Since 2018, estate planning legislation in Washington has remained stagnant. Increases in our legislated estate tax exemption rate had been tied to a Consumer Price Index that no longer existed, and the legislature largely...more

K&L Gates LLP

Recent Changes to Washington State Tax Laws Will Increase Taxes for Many Taxpayers

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In May 2025, Washington Governor Bob Ferguson signed into law several bills that will impact both individual and business taxpayers. Although the changes are likely to increase many taxpayers’ Washington tax bills, some...more

Perkins Coie

Washington Tax Changes 2025: Capital Gains, Estate Tax Increases, and Wealth Tax Update

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Washington concluded an eventful legislative session with the largest set of tax increases in the state's history. This Update focuses on two significant changes that affect Washington residents and a senate bill proposal...more

BCLP

Missouri Eliminates Capital Gains Tax for Individuals

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Missouri is poised to become the first State to eliminate the income tax on capital gains for individuals. The General Assembly passed House Bill 594 in May, and Governor Mike Kehoe is expected to sign the bill....more

Stoel Rives LLP

2025 Washington Tax Legislation Wrap-up

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Faced with a projected $16 billion deficit over the next four years, Washington Governor Bob Ferguson formally signed into law on May 20, 2025, a $78 billion 2025-2027 state biennial operating budget and a final tax package...more

Ballard Spahr LLP

WA Estate and Capital Gains Tax Changes Under SB 5813

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Facing a projected budget deficit of $12 to $16 billion, Governor Bob Ferguson signed several bills into law this week which will significantly increase taxes in Washington State. An overview of the increases to Business and...more

Ballard Spahr LLP

Washington State Passes Significant Tax Increases Affecting Both Businesses and Consumers

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Sweeping legislative changes are reshaping Washington state’s tax landscape. On May 20, 2025, Washington’s governor signed legislation significantly increasing the Business and Occupation (B&O) tax, sales tax, and more,...more

Fox Rothschild LLP

Washington State to Raise Capital Gains, Estate Tax Rates

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By June 7, 2025, Gov. Bob Ferguson is expected to sign legislation into law that would increase funding for Washington State's Education Legacy Trust Account (ELTA) by raising the capital gains and estate tax rates. ...more

Whiteford

Client Alert: New Maryland Sales Tax on IT Services, Capital Gains and More

Whiteford on

Just before the close of the 446th legislative session, the Maryland General Assembly passed and sent to Governor Moore HB 352/SB 321, the Budget Reconciliation and Financing Act of 2025 (the “BRFA”). The BRFA, which Gov....more

Foster Garvey PC

The Turbulent Ride for Washington’s New Capital Gains Tax Continues – The New Tax Regime Took Another Hit, But This Setback Came...

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As previously reported on May 7 and June 17 of this year, Washington state lawmakers enacted a new capital gains tax, set to go into effect on January 1, 2022, but two lawsuits were initiated to declare the tax...more

Foster Garvey PC

Two Lawsuits Are Better Than One – A Second Lawsuit Was Filed to Strike Down the New Washington State Capital Gains Tax

Foster Garvey PC on

As I previously reported, on May 4, 2021, Washington State Governor Jay Inslee signed Senate Bill 5096 ("SB 5096") into law, creating the state's first capital gains tax. It is set to go into effect on January 1, 2022....more

Stoel Rives LLP

Washington Governor Signs Into Law New Tax on Capital Gains

Stoel Rives LLP on

On May 4, 2021, Governor Jay Inslee signed into law Senate Bill (SB) 5096, a bill creating a new Washington state excise tax on the sale or exchange of certain capital assets....more

BakerHostetler

[Podcast] Washington's New Capital Gains Tax: A Stepping Stone to an Income Tax?

BakerHostetler on

Last week, Governor Inslee signed SB 5096, which enacted a 7% individual capital gains tax. What does this mean for the future of a progressive income tax in Washington? Will it survive a court challenge? Matt Hunsaker breaks...more

Foster Garvey PC

The Colorful and Continuing Journey of Senate Bill 5096 – the New Washington State Capital Gains Tax

Foster Garvey PC on

On May 4, 2021, Washington Governor Jay Inslee signed Senate Bill 5096 ("SB 5096") into law, creating a capital gains tax regime in Washington. The bill has had a brief, but colorful journey so far. It appears that the...more

Foster Garvey PC

The State of Washington May No Longer Be a Tax Haven – A New Capital Gains Tax May Be on the Horizon

Foster Garvey PC on

On April 25, 2021, the Washington State Legislature passed Senate Bill 5096 (SB 5096). The bill was immediately sent to Governor's Inslee's desk for signature. It brings a new tax regime to the state of Washington. Before...more

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