5 ms·
Washington state is one of a number of US states that doesn't have personal or corporate income taxes. To make up for it other taxes like property taxes are a l
by superfrank 3y ago
Washington state is one of a number of US states that doesn't have personal or corporate income taxes. To make up for it other taxes like property taxes are a lot higher.
Here's a breakdown of their 2020 revenue: https://ofm.wa.gov/washington-data-research/statewide-data/washington-trends/revenue-expenditures-trends/state-local-government-revenue-sources https://ofm.wa.gov/washington-data-research/statewide-data/w...
TL;DR:
- Washington is slightly more dependent on charges for services than the U.S. average.
- Washington depends more heavily on excise taxes, including the general sales & use tax, selective sales taxes, and the gross receipts tax (business & occupation tax) than most any other state.
- Washington is the only state with a general gross receipts tax - the Business & Occupation Tax.