The Millionaires Tax is a new tax in Washington state that, starting in 2029, will apply a 9.9% tax on household earnings over $1 million. Funding from this tax will provide, among other things:

• A big expansion of the Working Families Tax Credit – our state tax credit that provides an annual cash boost to households who most need it – that broadens eligibility to residents 18 and older and ensures more people qualify.
• A sales tax exemption on household items like hygiene products, over-the-counter medicine, and diapers.
• Broad support for K-12 schools, healthcare, higher education, and other essential human services.
• The biggest tax break for small businesses in our state’s history.

Check out our FAQ and this webpage for more information about this monumental new policy.

The Millionaires Tax will make important progress toward addressing our state’s inequitable tax code where the ultra-wealthy get a special deal at the expense of everyone else. Fewer than 1% of the very wealthiest people in this state will pay it, and it is estimated to bring in more than $3 billion per year to our state budget. The maps below provide a breakdown of the legislative districts where those payers live – and a look at how those payers’ annual incomes stack up with the median family income in each district.