Scott Edwards

Nov 26, 2024 | mondaq.com | Scott Edwards |Brett Durbin |Lewis Horowitz |Aaron Johnson

The failure of an initiative to repeal the state capital gains tax has emboldened three Seattle council members to float a Seattle city capital gains tax modeled on the state tax. As lawyers, we do not want to take a position on the wisdom of this policy; that is for voters and elected officials. However, we do want to explain why such an effort is not likely to survive the judicial review that will surely follow. Seattle, unlike the state, does not have plenary taxing authority.

Oct 29, 2024 | mondaq.com | Brett Durbin |Scott Edwards |Aaron Johnson

It's that time of year again for your annual Washington tax reminder: if you report under the Service and Other Activities classification or have apportionable income or royalty income in Washington state, the scary 13th return—the Annual Reconciliation of Apportionable Income—is due by Thursday, October 31. Missing this deadline could result in a 29-percent penalty. What does this return do? It allows you to adjust your Washington apportionment calculation for the preceding calendar year.

Apr 10, 2024 | mondaq.com | Scott Edwards |Lewis Horowitz |Aimee Miller

The Washington Department of Revenue continues to update its guidance on Washington's excise tax on long-term capital gains, resulting in the most recent proposed rule, WAC 458-20-301.

Feb 3, 2024 | newsbreak.com | Scott Edwards

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Jan 16, 2024 | lexology.com | Callie Castillo |Scott Edwards |Lewis Horowitz

On January 15, The U.S. Supreme Court declined to accept our certiorari petition. That means there will be no further judicial review of the Washington Supreme Court’s Quinn decision holding that the capital gains tax is a constitutionally valid excise tax — rather than an income tax violating the Washington State Constitution’s Uniformity Clause. Individuals who pay the capital gains tax can still challenge the tax as it applies to them.