Monthly Archives: June 2010

Initiative 1098: Fixing the most regressive tax system in the country

An Inclusive Economy Progressive Tax Reform

Fact Sheet | June 30, 2010

Background   A regressive tax is one that takes a larger percentage of the income of low‐income people than of high‐ income people. The Institute on Taxation and Economic Policy (ITEP) has concluded Washington State has the most regressive tax system in the country. According to their most recent report, publ

Initiative 1098: Will business owners pay state income tax?

An Inclusive Economy Ending Corporate Tax Breaks

Fact Sheet | June 17, 2010

Initiative 1098: Will business owners pay state income tax? Short Answer: According to IRS data, only a small percentage of Washington business owners would pay state income tax under I-1098. Of those Washington tax filers claiming net business income from a sole proprietorship, S-corporation and/or partnersh

Initiative 1098: How will a 20% reduction in the state property tax affect residential and commercial property owners?

An Inclusive Economy Funding Public Services Progressive Tax Reform

Fact Sheet | June 17, 2010

How will Initiative 1098’s property tax reductions affect business and property owners? Short Answer: Initiative 1098 includes a 20% across-the-board cut in the state portion of the property  tax levy, which will reduce property taxes for both businesses and individuals that own property. Background: Two-thir

Initiative 1098: What is Considered a ‘Small Business’?

An Inclusive Economy

Fact Sheet | June 3, 2010

Initiative 1098: What counts as a small business? Short Answer: I-1098 will eliminate the Business and Occupation (B&O) tax for Washington’s small businesses by increasing the B&O tax credit from $420 to $4,800 per year. According to a Washington  Department of Revenue analysis, under I-1098, 81% of W

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