Washington Gov. Jay Inslee signed into law Tuesday a new capital gains tax on high profit stocks, bonds and other assets.
A legal challenge against the tax has already started, with one lawsuit filed last week and another expected.
The measure imposes a 7% tax on the sale of stocks, bonds and other high-end assets in excess of $250,000 for both individuals and couples. It's expected to bring in $415 million in 2023, the first year the state would see money from the tax, which would start in January 2022.
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