How Washington State Taxes Retirees (Video)

A few years ago, Bill Gates Sr. and others put a ballot initiative for voters to approve a state income tax. It was voted down, by a rather large percentage, and so Washington remains one of the 7 US states with no income tax.

They make it up with one of the highest sales taxes in the union though, clocking in at over 9%. But groceries and prescription drugs are exempt. Which is a very good thing.

Property taxes are right in the middle for overall burden.

So all in all, Washington is definitely on the tax friendly side.

But be advised Washington does have a pretty significant estate tax.
I’ll do other videos on that. So be on the lookout.

 

See video here.

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