SALT in the Washington State Wound
Clever or clumsy?
Educational content. Not investment, tax, or legal advice. Consult an adviser or tax attorney.
To celebrate the nation’s 250th anniversary, I’m kicking off The 50 States Project, where, approximately weekly, I’ll talk about something state-specific.
If you have quirky state-specific stories, send them to me, and they might turn into a blog post. More about this little (actually big) project another time…
I live in Washington State. We have an unusual capital gains excise tax.
I wrote about WA State’s excise tax here.
One mitigating factor is that the excise tax is federally (SALT) deductible, right?
Nope!
How do federal and WA State taxes interact with each other?
And is there a case for WA State excise tax to reduce federal income tax in another way?
