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Stagwell (STGW) Adds CJ Worx, Thailand’s Most Awarded Independent Advertising Agency, to Global Affiliate Network

Associated Press

Justices weigh effort to balance Washington state’s tax code

An effort to balance what is considered the nation’s most regressive state tax code comes before the Washington Supreme Court on Thursday, in a case that could overturn a prohibition on income taxes that dates to the 1930s. Washington is one of nine states without an income tax, and its heavy reliance on sales and fuel taxes to pay for schools, roads and other public expenses falls disproportionately on low-income residents. Democrats in Olympia, led by Gov. Jay Inslee, sought to begin addressing that in 2021, when they enacted a 7% capital gains tax on the sale of stocks, bonds and other high-end assets, with exemptions for the first $250,000 each year and for gains from sales of retirement accounts, real estate and certain small businesses.

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