Washington's Millionaires Tax: What It Could Mean for Wealth, Tech, and Commercial Real Estate
Washington's Proposed Millionaires Tax (SB 6346) and the "Seattle Tax Stack": Mechanics, Migration, and Real Estate Impacts
Industrial Advisors Podcast hosts Bill Condon and Matt McGregor discuss Washington's proposed "Millionaires Tax," SB 6346, a 9.9% tax on household income above $1 million, noting it can effectively hit dual-income households and "lumpy" stock-based compensation. They describe a cumulative Seattle "tax stack" (9.9% state, 5% social housing, 2.4% JumpStart, 0.58% WA Cares) exceeding 18% before federal taxes, potentially reaching 55–60% total, and argue it could influence…
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