[WSBAPT] Capital gains tax upheld

[Jeff at bellanddavispllc.com]

So that means the B & O tax we pay on our income is also an excise tax and
not an income tax.

 

W. Jeff Davis

BELL & DAVIS PLLC

Attorneys at Law
P.O. Box 510

720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129 
Fax: (360) 683.1258 
email: jeff at bellanddavispllc.com <mailto:jeff at bellanddavispllc.com> 
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Joshua McKarcher
Sent: Friday, March 24, 2023 9:55 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Capital gains tax upheld

 

Enjoy this gem. So far, this is my "favorite" sentence:

 

"The capital gains tax is appropriately characterized as an excise because
it is levied on the sale or exchange of capital assets, not on capital
assets or gains themselves."

 

Tax = [y%] x [Gross gain - $250,000]

 

I will not go on. Best, Josh

 

Joshua D. McKarcher

McKarcher Law PLLC

537 6th Street

Clarkston, WA 99403

(509) 758-3345

(509) 758-3314 (fax)

 <mailto:josh at mckarcherlaw.com> josh at mckarcherlaw.com

 <http://www.mckarcherlaw.com/> www.mckarcherlaw.com

 

 

 

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