3 ms·
It looks like Oregon has a 9.9% capital gains tax, so moving to Portland would add to the tax bill of founders relocating before selling their company instead o
by grumpitron 5y ago
It looks like Oregon has a 9.9% capital gains tax, so moving to Portland would add to the tax bill of founders relocating before selling their company instead of reducing it.
- danans 5y agoOregon also has a state income tax, unlike Washington.
- lotsofpulp 5y agoWashington currently has 0.4% income tax for W2 employees, and another 0.6% coming on Jan 1, 2022 unless you have sufficient long term disability insurance by Jul 2021 to be able to opt out of it. So WA will effectively have a 1% income tax beginning Jan 1, 2022 for W2 earners (aka employees).
- licyeus 5y agoSearched for and couldn't find the 0.4% tax, which tax are you referring to? And for others, the incoming 2022 tax is a 0.58% payroll tax. From WA directly: "Washington state does not have a personal or corporate income tax." [1] 1 - https://dor.wa.gov/taxes-rates/income-tax https://dor.wa.gov/taxes-rates/income-tax
- lotsofpulp 5y agohttps://paidleave.wa.gov/estimate-your-paid-leave-payments/ https://paidleave.wa.gov/estimate-your-paid-leave-payments/ Washington can claim it does not have an income tax (for the purposes of subverting the state’s constitution forbidding it), but I do not see how money deducted from your income by government mandate is not a tax.
- foobiekr 5y agoOregon treats capital gains as regular income (so do most states, including CA). Oregon also has one of the worst tax regimes in the country. For most earners, a resident of a state like CA without sales tax on groceries, medical care, or medical necessities will end up with a substantially lower tax burden than a similar earner in Oregon. To be more taxed than CA is crazy.