3 ms·
What about 500k ? Because that's what the Seattle city council tax says [1]. So no, a family earning 200-250k will definitely not feel this tax Even if the lim
by vmarsy 9y ago
What about 500k ? Because that's what the Seattle city council tax says [1]. So no, a family earning 200-250k will definitely not feel this tax
Even if the limit was 250k, how would a family earning less than 250k feel the tax? It would literally cost them $0 per year since only income above 250k are taxed.
From [2]:
Tax Filing Status Total Income Rate
“single” Total income in the tax year up to $250,000 0%
Amount of total income in the tax year in excess of $250,000 2.25%
“married filing jointly” Total income in the tax year up to $500,000 0%
Amount of total income in the tax year in excess of $500,000 2.25%
[1] http://council.seattle.gov/2017/07/10/council-approves-city-income-tax-on-high-earners/ http://council.seattle.gov/2017/07/10/council-approves-city-...
[2] http://seattle.legistar.com/LegislationDetail.aspx?ID=3085475&GUID=03909BA9-0535-4A39-9B4A-7C561C7A604D&FullText=1 http://seattle.legistar.com/LegislationDetail.aspx?ID=308547...
- bitexploder 9y agoAhh, that makes more sense. I thought it was combined family income. Thanks for clarifying.