Member Action! Sign In To Oppose Capital Gains Tax HB 1496!
Dear WCA Members,
Please help us fight the Capital Gains Tax being proposed in Olympia. HB 1496 is up for a hearing tomorrow morning at 8:00 am.
Recap from last week’s legislative report about HB 1496: Beginning January 1, 2022, a tax is imposed on all individuals for the privilege of selling or exchanging long-term capital assets as follows: (a) The tax equals seven percent multiplied by the individual's Washington capital gains on real property; and (b) The tax equals 9.9 percent multiplied by the individual's Washington capital gains on all other long-term capital assets.
Essentially, criteria in the bill targets smaller ranches. If you earn 50% of your income off of the ranch, and you own your cattle or horses for more than 12 months.
It only takes a minute to sign in and state your position. Please do this as soon as possible by clicking the link below:
We have posted this information on our WCA social media pages and encourage you to share the post so we can get as much support opposing this bill.