OLYMPIA – Washington voters are being asked to repeal or maintain an income tax with a $1 million deduction on the Nov. 3 general election ballot. The income tax, passed by the Washington Legislature in March 2026, doesn’t go into effect until January 1, 2028, with the tax on 2028’s income due in 2029. When it goes into effect, it exempts the first $1 million in income and then taxes the remaining income at a rate of 9.9%.
The income tax, enacted via Senate Bill 6346, was signed into law by Gov. Bob Ferguson and is expected to generate $3 billion for the state treasury in its first year. The state estimates 20,000-25,000 households would be subject to the 9.9% tax collection.
On the Nov. 3 general election ballot, voters are being asked to keep or reject that so-called ‘millionaire’s tax’ via the statewide initiative, I-645. A ‘yes’ vote would repeal the 9.9% income tax. A ‘no’ vote would keep the income tax in place…