July 10 , 2015 - Mary Strow
Washington #5 in state/local sales tax
The Tax Foundation is out with its midyear report on sales tax rates, and Washington ranks fifth in the nation for our combined state and average local sales tax rate of 8.90%. Ahead of us are #1-ranked Tennessee at 9.46%, #2 Arkansas at 9.27%, #3 Louisiana at 9.01% and #4 Alabama at 8.93%. For more information, see the […]
July 07 , 2015 - Emily Makings
Links: Tax changes and employment policy
The Department of Revenue has a list of the tax changes that went into effect July 1 (the first day of fiscal year 2016). Those tax changes include the extension of sales and use tax exemptions for data centers. Data centers have a significant economic impact on communities in eastern Washington, and the exemptions matter […]
July 02 , 2015 - Mary Strow
Washington's #1!
…in spirits taxes, that is. The Tax Foundation today issued its much-awaited ranking of state distilled spirits excise taxes. Washington easily leads the pack with a rate of $35.22 per gallon (Oregon’s a distant second at $22.72 per gallon). Read more here.
July 01 , 2015 - Mary Strow
June 25 , 2015 - Kriss Sjoblom
Senator Hill introduces tax exemption bill
Sen. Andy Hill introduced a new revenue bill yesterday(SB 6138). Three elements of the bill are in common with the most recent House revenue proposal (PSHB 2269, which we discussed here): Extend economic nexus to wholesaling Increase the B&O tax rate for royalty income from 0.484% to 1.5% Require local governments to provide information on […]
June 22 , 2015 - Emily Makings
New House budget proposal would spend $316 million more than Senate
Today House Appropriations chair Ross Hunter released a new 2015-17 operating budget proposal. The budget bill (2P2SHB 1106) is accompanied by PSHB 2269, which makes revenue changes and additional appropriations. 2P2SHB 1106 would appropriate $37.854 billion, which is significantly less than the House’s June 1 proposal ($38.512 billion) and slightly less than the Senate’s May […]
June 19 , 2015 - Emily Makings
The budget solution won't include a capital gains tax after all
As Opportunity Washington noted this morning, it’s been a little too quiet in Olympia. No longer: Today Gov. Inslee held a press conference in which he said that the two sides are not hung up over a capital gains tax (or any other new tax). Instead, he said there are still disagreements over the amount […]
June 18 , 2015 - Emily Makings
Clashing tax policy models
At our annual dinner this year, economist Rick Evans spoke about open source tax policy models. (We excerpted his talk for an episode of Policy Today.) He noted that there are three groups at the federal level who estimate the effects of tax policy changes: the Joint Committee on Taxation, the Tax Policy Center, and […]
June 17 , 2015 - Emily Makings