Surprisingly, red Idaho is among them. But blue Washington is not.
Washington doesn’t have a state income tax. Washington makes up for it with local taxation. If this passes everyone will pay at least 44% and the states with state capital gains taxes will pay more. This is more centralizing of the tax base. It will kill off investing except for retirement accounts and the very rich. The risk won’t be viable for non-multi-millionaires under $10mm in net worth. 99% of the country will be cut out.
Au contraire, Angelino.
Washington state now has a 7% cap gains tax.
Our state Constitution forbids a state income tax.
Our 100% Democrat state Supreme Court decided that capital gains are NOT income!
Jeff Bezos (Amazon founder) did not agree.
Bezos moved to Florida and promptly sold a huge chunk of Amazon stock for a huge profit.