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Department of Revenue: wealth tax administrable but poses valuation and compliance challenges
Summary
DOR told the committee it could administer a wealth tax if the Legislature enacted one, but international and state experience show significant valuation, compliance, and enforcement challenges that affect revenue reliability and administrative costs.
The Department of Revenue presented a staff report on wealth taxes to the House Finance Committee on Jan. 14, summarizing international experience and analyzing what administration would require in Washington.
Steve Ewing said DOR surveyed other jurisdictions and reviewed scholarly literature and international practice. The report noted several countries and Swiss cantons currently levy taxes resembling a wealth…
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