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Act now to oppose capital-gains income-tax legislation

Contact your State House members and urge a NO vote on ESSB 5096, legislation to impose a capital-gains income tax.

Capital-gains tax legislation has already passed the Senate, so it is imperative that you contact House members ASAP.  Under this bill, a 7% tax is imposed on the sale or other voluntary exchange of long-term capital assets by individuals, with certain thresholds and exemptions.  The IRS unequivocally says a capital-gains tax is an income tax. Proponents want the bill to pass knowing there will be a court challenge; they feel the Washington State Supreme Court will declare it constitutional, opening the doors for broader income taxes in the state. Plus, the latest version of the bill includes language intended to prevent it from being placed on the ballot for a vote of the people.

Taking action is easy! Simply submit the pre-written message as is to your state representatives or customize it with personal information on how this issue impacts you and your company. Please share this Action Alert with others within your company. 

If you have questions on this legislation, contact AGC at 360.352.5000 or email Jerry VanderWood.

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