Washington State Supreme Court upholds controversial capital gains tax.

Seattle tech entrepreneurs and investors have mixed reactions to the new capital gains tax that targets stocks, which was recently found to be lawful by the Washington state Supreme Court. The tax imposes a 7% tax on capital gains of more than $250,000 from the sale of stocks and bonds, excluding revenue from real estate and retirement accounts, among other exceptions. The tax will affect founders and employees that have sold their companies since January 2022 or do so in the future. The estimated $500 million in yearly revenue the tax is expected to generate is earmarked to be funneled into early-childhood education programs and school construction.