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Washington's Capital Gains Tax Revenue Plummets After Bezos Moves

12/31/2025

Summary

Story summary

Washington state's capital gains tax targeting long-term gains faces revenue volatility after Jeffrey Preston Bezos relocated to Florida, causing a projected loss of nearly $1 billion.
In its first year the tax collected between $786 million and $890 million.
In the second year, revenue dropped to $430 million as wealthy individuals adapted.
Critics say relying on a few wealthy taxpayers creates revenue instability.
Supporters say overall state finances remain robust.

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Story summary

Washington state's capital gains tax targeting long-term gains faces revenue volatility after Jeffrey Preston Bezos relocated to Florida, causing a projected loss of nearly $1 billion.
In its first year the tax collected between $786 million and $890 million.
In the second year, revenue dropped to $430 million as wealthy individuals adapted.
Critics say relying on a few wealthy taxpayers creates revenue instability.
Supporters say overall state finances remain robust.