Washington HB2100 proposes an excise tax on large operating companies to fund services for Washingtonians.

Washington HB2100 introduces a payroll expense tax on high-earning jobs for large operating companies to generate revenue for the Well Washington fund account. This fund aims to support higher education, health care, cash assistance programs, and energy and housing initiatives. The tax applies to companies with over 20 employees, more than $5 million in gross receipts or sales, and a U.S. address. The tax rate is five percent on wages exceeding the additional Medicare tax threshold of $125,000.

Washington HB2100 proposes an excise tax on large operating companies to fund services for Washingtonians.

Washington HB2100 introduces a payroll expense tax on high-earning jobs for large operating companies to generate revenue for the Well Washington fund account. This fund aims to support higher education, health care, cash assistance programs, and energy and housing initiatives. The tax applies to companies with over 20 employees, more than $5 million in gross receipts or sales, and a U.S. address. The tax rate is five percent on wages exceeding the additional Medicare tax threshold of $125,000.