Monday, June 17, 2013

State may want to keep those death tax refunds on hand

Lawmakers may have thought they dodged a bullet last week when passing a retroactive death tax "fix" to a state Supreme Court ruling which would have required refunds but with additional litigation pending due to the retroactive nature of the tax increase the state may still end up paying those court ordered refunds. Here is the Washington State Bar Association's testimony about such retroactive tax increases likely being unconstitutional. While saying we don't want to be like the other Washington (D.C.), policy makers appear to have taken a page out of the Congressional playbook by utilizing retroactive tax policy. But even for Congress (which is no stranger to retroactive taxes) making retroactive tax changes apply longer than during the current fiscal year is tempting fate . . . READ MORE


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