Democrats push new business income tax

If you think Olympia’s thirst for taxes couldn’t get any worse, get ready. Democrats in Olympia are discussing a 9.9% tax on income above $1 million dollars which along with high earning individuals, affects the vast majority of small businesses in in the state. The tax calculation is purportedly based on Adjusted Gross Income, which means any small business (depending on the business tax structure) that makes over $1 million will be taxed, even if business expenses are close to or exceed the threshold.

It will effectively give every business owner a choice, increase prices to cover the tax, o...