Don’t miss the call on capital gains income taxes
By now you’ve probably seen the worst non-call in NFL playoff history from yesterday’s Saints/Rams NFC Championship game. What does that have to do with proposals for a capital gains income tax in Washington? As is the case with NFL rules for pass interference, the tax rules for capital gains income taxes are clear. In both instances, however, the officials must actually enforce the rules.
Unlike the poor Saints, Washington taxpayers will have the option for instant replay to overturn a blatantly missed capital gains income tax call by the Legislature should it come to that. Let’s hope that isn’t necessary and we have a clean tax debate instead.
Who calls a capital gains tax an income tax? Every tax authority in the country
Tax Foundation: Sorry, Washington State—Capital Gains Taxes are Still Income Taxes—But There’s a Better Way