The official record does not verify that a Washington initiative to repeal the capital gains tax has “passed a key milestone.” It lists initiative IP26-204 as being in signature collection, with a ballot title issued May 11, 2026. That is not the same as signature verification, certification, or placement on the ballot. The records also list a separate measure, IP26-645, so the initiative number matters.
What milestone does the official record show?
The Washington Secretary of State’s 2026 initiative record for IP26-204 identifies sponsor Brian Heywood and gives the measure’s status as signature collection. It records a ballot title issuance date of May 11, 2026, but does not establish that the initiative passed a signature-verification or ballot-placement milestone.
A ballot title is not proof that a measure has qualified for an election. The Secretary of State explains that statewide petition signatures are checked and verified as the 2026 ballot information page is updated; official voter-guide materials are linked there as they become available. See the Secretary of State’s 2026 ballot information page.
Which Washington initiative is this?
IP26-204 and IP26-645 are distinct measure identifiers. The official proposed-measures page separately lists IP26-645 among 2026 Initiatives to the People, with links to its title letter, full text, explanatory statement, fiscal impact statement, public investment impact disclosure, and arguments and rebuttals. Its presence on that page does not establish that it is the same proposal as IP26-204 or that it targets the same taxes.
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Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →When following an update, check the identifier and the measure’s own official materials. Do not treat a title issuance, signature collection, verification, certification, and ballot placement as interchangeable steps.
What would IP26-204 change?
IP26-204 is broader than a proposal focused only on repealing Washington’s existing capital gains tax. Its official title and summary describe a proposal to repeal taxes on annual income over $1,000,000 and certain capital gains over $278,000, and to prohibit state and local income and capital gains taxes on the terms stated in the measure. Those dollar amounts are proposal thresholds in the official summary, not estimates of tax savings or a description of current tax liability. Consult the official IP26-204 record for its wording.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is Washington’s capital gains tax still in effect?
Yes. Washington’s Department of Revenue describes the current tax as a 7% tax on sales or exchanges of certain long-term capital assets. The Legislature created it in 2021 through ESSB 5096, now codified as RCW 82.87. The tax’s scope and applicable rules depend on the law; the Department of Revenue’s capital gains tax information is the relevant official source.
A separate 2026 law allows taxpayers who owe the tax to prepay up to six months before the filing deadline. The Department says this payment-timing change took effect June 11, 2026. It does not repeal the tax. See the Department’s information on the prepayment change.
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How to track whether an initiative qualifies
- Confirm the identifier. Find the initiative number on the Secretary of State’s official record; do not rely on a headline that omits it.
- Read the listed status. For IP26-204, the cited record says signature collection. A ballot title issuance date alone does not demonstrate qualification.
- Look for verification and certification updates. The Secretary of State’s 2026 ballot information page describes the signature-checking process and links to official ballot materials.
- Review the measure’s own documents. For IP26-645, the state’s proposed ballot measure listing links to the text and fiscal and explanatory materials. Do not assume those documents apply to IP26-204.
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