State work group explores taxation

May 23, 2022

A group of state and local policymakers will consider replacing Washington’s Business & Occupation (B&O) tax, adding a wealth tax and other proposals this week. The Washington State Tax Structure Work Group (TSWG) meets to discuss changes to Washington’s tax system from 1 p.m. to 4 p.m. on Wednesday, May 25, 2022.

They’re considering the following proposals:

• Business and Occupation Tax/Margins Tax
• Working Families Tax Credit
• Property Tax Limit Factor
• Primary Residence Property Tax Exemption
• Wealth Tax

Geek out

They’ve developed a tax calculator to allow people to plug in personal and/or business information and review the proposals’ impacts on their personal and business tax burden. They’ve also created a video library and slide deck to walk people through the different scenarios.

Watch

Click here to view the May 25 meeting agenda and materials.

To attend the online meeting, please use the following information:

To join via web: https://us06web.zoom.us/j/86854270900
Webinar ID: 868 5427 0900

To join with audio only: Dial (253) 215-8782, then enter: 868 5427 0900#

TVW is recording and streaming the meeting at https://www.tvw.org/schedule-main/ so people may view it later.

Weigh in

If you want to comment, please email info@taxworkgroup.org with your name and organization by 3:15 p.m. on May 25. You’ll have up to three minutes to provide comments, and only the co-chairs may grant more time.