It won't affect most businesses however. Only those with $10M in revenue in the year preceding the sale. > Business owners are exempt from the tax if they were

It won't affect most businesses however. Only those with $10M in revenue in the year preceding the sale. > Business owners are exempt from the tax if they were regularly involved in running the business for five of the previous 10 years before they sell, own it for at least five years, and gross $10 million or less a year before the sale. Source: https://apnews.com/article/business-government-and-politics-washington-personal-taxes-legislature-47fa90123a7732de00243ac8cb11c4d8 https://apnews.com/article/business-government-and-politics-... Or legal source: http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bills/Senate%20Passed%20Legislature/5096-S.PL.pdf?q=20210430122559 http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bills/Sen... See Section 8, (2)(d)(iii)