An initiative to repeal Washington’s capital gains tax, which levies a 7% tax on the sale or exchange of long-term assets like stocks, bonds and business interests, was defeated Tuesday. Voters were opposing Initiative 2109 by 63.

Harris and Trump have different views on taxing capital gains. See what Trump said he would do if elected to the White House.

Early election results indicate that a majority of voters have rejected Initiative Measure 2109, with 63% of voters voting against it while 37% voted in favor.

Voters in Washington have voted down Initiative 2109 in the November 2024 election. This means the 7% excise tax will remain on the books. The Associated Press called the race at 8:43 p.m. on election night.

Tuesday night results for Initiative 2109 show the measure to repeal the capital gains tax is failing by a wide enough margin for backers of the

Making money on your investments is a great feeling. The only downside is the capital gains tax you have to pay on your earnings when you sell. Each year, the capital gains tax brackets get a bit of an adjustment to account for inflation — but they can still take a chunk out of your profits.

An initiative to repeal Washington’s capital gains tax, which levies a 7 percent tax on the sale or exchange of long-term assets like stocks, bonds and business interests, was failing Tuesday night.

The capital gains tax, advocates say, allows the state to put more public dollars toward early learning. Others argue it hampers Washington’s business climate.

The UK government has lifted its tax rates on capital gains, with entrepreneurs on the hook for a larger bill when they sell their businesses.