article thumbnail

Washington State Capital Gains, Er, Excise Tax

TrustBank

As some of you may recall, the Washington state legislature had passed a 7% tax on capital gains on the sale of certain assets. Before it could take effect a trial court in Douglas County ruled that this was an invalid income tax in the state of Washington. This tax also applies to gains from pass-through entities.

article thumbnail

Washington Capital Gains Tax Update

TrustBank

You may recall that in 2021 Washington state passed legislation to implement a 7% capital gains tax on certain asset sales, with the tax applying to profits that exceed $250,000. The assets subject to this tax are, in general, stocks, bonds, business interests, and tangible property, but not real estate.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Top Banks Looking To Washington For Growth, Clarity

PYMNTS

.’s largest banks are looking to Washington, D.C., According to Morgan Stanley CEO James Gorman, lower corporate taxes and more streamlined bank regulation could “allow U.S. But while many bank CEOs have fixed their eyes on Washington to promote industry growth, not every executive is optimistic.

article thumbnail

2021 Tax Proposals

TrustBank

On September 15, the House Ways and Means Committee approved the tax provisions of the Build Back Better Act (BBBA), the legislation intended to implement President Biden’s social and education reforms. This proposal would be effective for tax years beginning after Dec. net investment income tax + 3% high income surcharge).

Taxes 52
article thumbnail

Capital Gains — Not That Bad?

TrustBank

Recently, financial planning and investment planning discussions have focused on capital gains and the tax cost associated with them. Some clients fear that cap gains tax rates will go up with Joe Biden winning the White House and/or the US Senate flipping to Democratic control. Capital Gain Tax Rates.

Capital 52
article thumbnail

SaaS sales tax compliance software Anrok hits $100M valuation. Anrok’s competitors include Avalara, DAVO Technologies, TaxCloud, Taxware, and Vertex.

CB Insights

Anrok , a SaaS sales tax solution, has raised $20M in a Series A. The round drew participation from Index Ventures and Sequoia Capital. California-based Anrok unifies sales tax monitoring, calculation, and payments processes across the enterprise financial stack. HOW’S THE COMPANY PERFORMING? Want the full post?

Taxes 59
article thumbnail

Aaron Stetter: Back to Capitol Hill

Independent Banker

The ICBA Capital Summit is the premier event for community bankers looking to advocate for their industry. In person for the first time since 2019, the ICBA Capital Summit in Washington, D.C., Community bankers, pack your bags for Washington, D.C. Community bankers, pack your bags for Washington, D.C.

Community 180