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2023 Personal Tax Guide
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Washington Excise Tax

Washington state residents and nonresidents are now subject to the new excise tax effective January 1, 2022. Washington State Department of Revenue (“Department”) implemented this 7% excise tax on long-term capital gains for individuals to raise revenue to fund educational efforts.

While this tax was deemed unconstitutional by the Douglas County Supreme Court in March of 2022, the state has appealed the decision to the Washington State Supreme Court, where the case is still pending. The first excise tax payment is due April 18, 2023, so taxpayers should be prepared and stay up-to-date on this case as it progresses.

Related Information

Articles February 10, 2023 Washington Excise Tax Alert

Washington state residents and nonresidents should prepare for a new 7% excise tax on long-term capital gains for individuals.

On-Demand Webinars March 01, 2023 On-Demand: Washington Excise Tax

EisnerAmper explains who is impacted and how to get prepared for a time-sensitive tax change.

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“EisnerAmper” is the brand name under which EisnerAmper LLP and Eisner Advisory Group LLC provide professional services. EisnerAmper LLP and Eisner Advisory Group LLC practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. EisnerAmper LLP is a licensed independent CPA firm that provides attest services to its clients, and Eisner Advisory Group LLC and its subsidiary entities provide tax and business consulting services to their clients. Eisner Advisory Group LLC and its subsidiary entities are not licensed CPA firms. The entities falling under the EisnerAmper brand are independently owned and are not liable for the services provided by any other entity providing services under the EisnerAmper brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by EisnerAmper LLP and Eisner Advisory Group LLC.