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The interesting journey of the Washington State Capital Gains Tax appears to have reached its final landing place. Washington state voters were presented with Initiative 2109 on November 5th with an opportunity to retain or repeal the new tax. In the end, they overwhelmingly decided to retain the tax. Absent a future voter initiative or legislative action to repeal the tax, it appears the final chapter in this short story has reached its conclusion. We have written several posts on this matter already (Post 1 and Post 2) and will do our best to keep you informed so that you may plan accordingly.
As an important reminder, we are not able to provide tax advice, and urge you to consult with your tax professional to address specific tax related matters.
Please reach out with any questions and we will do our best to address them.
Disclosures
INVESTMENT AND INSURANCE PRODUCTS ARE NOT FDIC Insured | NOT bank guaranteed | MAY lose value
Riverview Trust Company investments are not insured or guaranteed by the Bank, the Federal Deposit Insurance Corporation or any other government agency. Non-deposit products are subject to investment risks, including possible loss of principal. Past performance does not indicate future results. Asset allocation does not assure or guarantee better performance and cannot eliminate the risk of investment losses.
Riverview Trust Company does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
