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Revenue › WA Millionaires' Income Tax (ESSB 6346)
STATE · INCOME · ESSB 6346
WA Millionaires' Income Tax (ESSB 6346)
Washington's first broad income tax in ~90 years, signed by Governor Ferguson March 30, 2026. Standard $1M deduction (shared for married couples — not $2M). Inflation-indexed starting 2030. Exempts real estate sales, ...
Signed pending
Income
State
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Latest year
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Cumulative collected
9.9% on income above $1M per taxpayer
Current rate
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Years of data
About this revenue source
Washington's first broad income tax in ~90 years, signed by Governor Ferguson March 30, 2026. Standard $1M deduction (shared for married couples — not $2M). Inflation-indexed starting 2030. Exempts real estate sales, qualified family-owned businesses, public pensions, and certain retirement income. Passed Senate 27-22 and House 51-46 after the longest floor debate in WA history (~25 hours). First filings due 2029.
Authorization
Statutory or ballot basis for this revenue source.
Statutory citation: ESSB 6346
Effective: Jan 01, 2028
Collection history
Year-by-year amount collected as documented in the source ledger (Annual Tax Books for property-tax sources; CAFRs and revenue schedules for others).
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Funds it feeds
Every governmental fund that this revenue source flows into. Allocation percentages are documented where the source materials specify them.
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Real-estate relevance
RE sales exempt — likely accelerates land-as-asset behavior
Discussed in meetings
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