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After 93 years and a 25-hour debate, Washington has an income tax, and billionaires are leaving
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After 93 years and a 25-hour debate, Washington has an income tax, and billionaires are leaving

1 min read

Howard Schultz is heading to Miami. Jeff Bezos left in 2023. Now Washington's new 9.9% millionaires tax is testing whether the state's wealthiest residents see their home as more than a line on a tax return.

On March 9, lawmakers passed a 9.9% tax on personal income above $1 million per year—a first for the income-taxless state. The final vote was 52–46, and involved the longest floor debate in Washington history, far exceeding the previous record of nin... [5543 chars]

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Source: Fortune

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