9/9/2023 0 Comments Tax rates washington![]() ![]() Uppermost capital gains tax rates by state, 2015 The table below summarizes uppermost capital gains tax rates for Washington and neighboring states in 2015. While the federal government taxes capital gains at a lower rate than regular personal income, states usually tax capital gains at the same rates as regular income. Capital gains are taxable at both the federal and state levels. ![]() Examples of capital assets include stocks, businesses, land parcels, homes, personal items and more. Personal exemptions, 2017Ĭapital gains tax See also: Capital gains taxĪ capital gains tax is a tax levied on the profit gleaned from the sale of a capital asset. The state exemptions for Washington and its neighboring states as reported by the Tax Policy Center are reported in the chart below. Both state and federal taxes allow exemptions. Įxemptions work by reducing the amount of an individual's taxable income. The personal exemption indicates that only a person's income above a certain level is subject to taxation. States that collect a personal income tax allow individuals to claim personal exemptions on income taxes each year. Source: Tax Policy Center, "Individual State Income Tax Rates 2000-2017," accessed October 26, 2017 Note: For complete notes and annotations, please see the source below. The table below summarizes personal income tax rates for Washington and neighboring states in 2017. Washington did not utilize a personal income tax in 2017. Tax rates Personal income tax See also: Personal income tax If you would like to help our coverage grow, consider donating to Ballotpedia. This article does not contain the most recently published data on this subject. Effect of the Affordable Care Act in Washington.Oil and gas extraction on federal land in Washington.Ballot access requirements for presidential candidates in Washington.Ballot access requirements for political parties in Washington.Ballot access requirements for political candidates in Washington.Campaign finance requirements for Washington ballot measures.Campaign finance requirements in Washington.Get more information from the Washington State Department of Revenue. Gamblingīingo and raffles 5% of gross receipts (except charities holding one event per year and earning less than $10,000) punchboards and pull tabs 5% of gross receipts paid by business offering gambling at their establishment/event Real Estate Excise TaxĠ.25% of selling price paid by property owners to the Pierce County Treasurer at closing Other State Taxes Utility Fund TaxĦ% paid by utility customers on their water-sewer utility, the refuse utility, and the storm sewer utility Commercial Parkingġ5% gross proceeds any business charging for commercial parking Lodging Taxĥ% for facilities with 26 rooms or more/2% for facilities with 25 rooms or less goes to Pierce County for allocation to support tourism plus a 2% occupancy tax that goes to City of Sumner to support tourism and $0.50 per room night collected for Pierce County’s Tourism Promotion Area paid by guests of the hotel on their room bill. Sumner does not have a B&O tax over and above the State tax. The State of Washington has a sales tax look-up app. Of this tax collected, 68.4% goes to the State of Washington, 14.7% to the regional transit authority (Sound Transit), 10.5% to City of Sumner, and 1.1% each to communication services, criminal justice, juvenile facility, mental health, and the zoo & aquarium. The total Sales Tax Rate in Sumner is 9.5%, paid by shoppers on non-food items purchased. In general, here’s where your property tax bill goes: For more information about funding the City receives and what it pays for, visit our Budget in Brief. Link to the Pierce County Assessor-Treasurer for information about your property. City portion is 9.7% of your property tax bill. ![]()
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