Thursday, May 6, 2010

Is an income tax the only alternative to the dreaded B&O tax?

This November voters will likely have the opportunity to vote for the tenth time on an attempt to create an income tax in Washington. As evident by the lack of an income tax in the state, past attempts have not been successful at the polls (with the exception being in 1932 though the tax was ruled unconstitutional). What is interesting about the new income tax proposal being discussed is the attempt to sell it as small business relief from the state's unique and onerous Business and Occupation (B&O) tax. There is, however, a better way. Last year Governor Gregoire said, "If you want to come forward with an alternative to the B&O tax system in the state of Washington, the welcome mat is out from me." The Washington Policy Center decided to take her up on her offer and modeled the impacts of various replacement taxes . . . READ MORE

1 comments:

誠侑 said...

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