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Startup founders and tech groups oppose SB 6,229; budget center backs closing QSBS exemption
Summary
SB 6,229 would subject qualified small business stock (QSBS) gains to Washington's capital gains tax; startup founders and industry groups warned the change would harm entrepreneurship while the Washington State Budget and Policy Center and other advocates said the exemption chiefly benefits the wealthiest and closing it would raise revenue for public programs.
The Senate Ways and Means Committee on Jan. 29 heard sharply divided testimony on Senate Bill 6,229, which would make excluded long-term capital gains from qualified small business stock (QSBS) subject to Washington’s capital gains tax for gains earned on or after Jan. 1, 2026.
Committee staff said the bill would affect roughly 260 taxpayers and estimated a revenue increase of about $1.2 million in fiscal year 2027 and $3.4 million over the four‑year outlook; the…
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