Establishes a 3% tax on wealth proceeds for high-income households in the District of Columbia.
The Wealth Proceeds Tax Amendment Act of 2026 amends Chapter 18 of Title 47 of the District of Columbia Official Code to impose a tax on wealth proceeds for high-income households. The tax is equal to 3% of the lesser of wealth proceeds or federal modified adjusted gross income, minus a threshold amount. The tax applies to individuals, estates, and trusts with a District modified adjusted gross income above specified thresholds. The act includes definitions for terms such as "wealth proceeds" and "threshold amount," and it specifies how the tax is calculated for different types of taxpayers.
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