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During a tax panel at the Association of Washington Business 2018 Policy Summit this week, the state Department of Commerce said the lack of a state income tax, including no capital gains income tax, "is great marketing" for Washington. If an income tax is imposed, Commerce said that would mean "one less tool that we have in our economic development tool box."
This statement should come as no surprise. For years the Washington Department of Commerce has made the state's lack of an income tax a major selling point for its "Choose Washington" campaign:
"We offer businesses some competitive advantages found in few other states. This includes no personal or corporate income tax."
Let's hope state officials keep this in mind the next time they want to throw away this "competitive advantage" with talks of a capital gains income tax.
Additional Information
Washington officials say no state income tax is competitive advantage
Lawmakers again propose capital gains income tax
