Washington Income Tax, Initiative 1098 (2010)
The ballot title reads:
- Statement of Subject: Initiative Measure No. 1077 concerns taxation.
- Concise Description:This measure would tax “adjusted gross income” above $400,000 joint ($200,000 individual), reduce the state property tax levy, reduce certain business and occupation taxes, and direct any increased revenues to education and health.
- Should this measure be enacted into law? Yes [ ] No [ ]
According to the description prepared by the Washington Secretary of State:
This measure would establish a tax on “adjusted gross income,” as determined under the federal internal revenue code, above $400,000 for married couples filing jointly, and above $200,000 for individuals; reduce the state property tax levy by 20%; and increase the business and occupation tax credit to $4,800. Revenues from this measure would first replace revenues lost from the reduced levy and increased credit. Any remaining revenues would be earmarked for education and health services.
Path to the ballot
In order to qualify for the November ballot, supporters are required to submit a minimum of 241,153 valid signatures by July 2, 2010.
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