WA SB6248 | 2023-2024 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on January 16 2024 - 25% progression, died in committee
Action: 2024-01-16 - First reading, referred to Ways & Means.
Pending: Senate Ways & Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Modifying the capital gains tax under chapter 82.87 RCW and related statutes by closing loopholes, repealing and replacing the business and occupation tax credit with a capital gains tax credit, clarifying ambiguities and making technical corrections in a manner that is not estimated to affect state or local tax collections, treating spouses and domestic partners more consistently, modifying and adding definitions, creating a good faith penalty waiver, and modifying the publication schedule for inflation adjustments.

Tracking Information

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Title

Modifying the capital gains tax under chapter 82.87 RCW and related statutes by closing loopholes, repealing and replacing the business and occupation tax credit with a capital gains tax credit, clarifying ambiguities and making technical corrections in a manner that is not estimated to affect state or local tax collections, treating spouses and domestic partners more consistently, modifying and adding definitions, creating a good faith penalty waiver, and modifying the publication schedule for inflation adjustments.

Sponsors


History

DateChamberAction
2024-01-16SenateFirst reading, referred to Ways & Means.

Same As/Similar To

HB2278 (Crossfiled) 2024-01-10 - First reading, referred to Finance.

Code Citations

ChapterArticleSectionCitation TypeStatute Text
82044497Amended CodeSee Bill Text
8232050Repealed CodeSee Bill Text
8232060Amended CodeSee Bill Text
8232090Amended CodeSee Bill Text
8232105Amended CodeSee Bill Text
8287New CodeSee Bill Text
8287020Amended CodeSee Bill Text
8287040Amended CodeSee Bill Text
8287050Amended CodeSee Bill Text
8287070Amended CodeSee Bill Text
8287080Amended CodeSee Bill Text
8287110Amended CodeSee Bill Text
8287120Amended CodeSee Bill Text
8287150Amended CodeSee Bill Text

Washington State Sources


Bill Comments

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