Judge overturns Washington state’s new capital gains tax

By RACHEL LA CORTE
Associated Press

OLYMPIA, Wash. (AP) — A judge has overturned a new capital gains tax on high profit stocks, bonds and other assets that was approved by the Washington Legislature last year, ruling that it is an unconstitutional tax on income. In his written decision issued Tuesday, Douglas County Superior Court Judge Brian Huber agreed with opponents of the new tax who had argued that the it was tax on income that violates previous state Supreme Court rulings and the state constitution because it is not a uniform taxation on property. Attorney General Bob Ferguson said in an email Tuesday that his office would appeal to the state Supreme Court.