Washington enacted a 9.90% tax on an individual’s Washington taxable income above $1 million. It applies to income received starting in 2028, with collections beginning in 2029—not in 2026, the year the law was signed. The threshold applies to a defined state tax base, so the tax is not simply 9.9% of every dollar a person earns or a rule based on a household’s combined income.
What Washington’s millionaires tax does
ESSB 6346 creates a new state tax under Title 82A RCW. The enacted rate is 9.90%, and the threshold is $1 million of an individual’s Washington taxable income. The enacted statute is the controlling source for how the tax is calculated.
| Question | What the official materials say |
|---|---|
| Rate | 9.90% on an individual’s Washington taxable income above $1 million, under the enacted statute. |
| First income year | 2028, according to the Washington Department of Revenue’s 2026 Legislative Report. |
| First collection year | 2029, according to the same Department of Revenue report. |
| Enactment | Governor Bob Ferguson signed ESSB 6346 on March 30, 2026; see the state’s 2026 Final Bills Passed. |
Who could be affected—and what counts as income?
The law uses an individual threshold, not a household-income threshold. A person’s circumstances cannot be determined just by comparing a salary, gross income, or a couple’s combined earnings with $1 million: the relevant amount is Washington taxable income as defined by the law.
The statutory framework includes adjustments to federal adjusted gross income and rules for exclusions and allocating or apportioning income, including for nonresidents. The Senate Bill Report for ESSB 6346 summarizes these provisions, but the enacted code—not a bill summary or a general income figure—governs a taxpayer’s application. The details may matter for people with income from multiple sources or ties to more than one state.
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Does it tax every dollar once income passes $1 million?
The headline threshold is not a basis for treating the tax as 9.9% of all gross income. The law refers to Washington taxable income and sets the $1 million threshold against that defined base. The statute should be consulted for the calculation and any applicable adjustments; this overview cannot determine an individual tax bill.
When does the tax start?
The tax applies to income received beginning in calendar year 2028. The Department of Revenue says the state will collect the tax in 2029 and thereafter. Signing the bill in March 2026 did not mean collections began that year.
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Where does the revenue go?
The statute directs receipts to the state general fund for specified tax relief and public investments, including sales and use tax relief, the Working Families Tax Credit, business and occupation tax relief, K-12 education, health care, human services, and higher education.
In his March 30, 2026 signing announcement, Governor Ferguson said the package would provide “free meals for K-12 students,” tax relief for small businesses and baby diapers, and “a check to nearly 500,000 working families.” The governor’s office also said more than 41.3% of revenue would be returned to Washington families and small-business owners in the first full year of implementation. These are the governor’s descriptions and projections of the package, not evidence here that the benefits have already been delivered. See the governor’s signing announcement.
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Is the tax’s future legally settled?
Enactment establishes the law, but it does not by itself resolve every possible court challenge or later political effort to change it. The official materials cited here establish that ESSB 6346 was signed and set out its provisions; they do not establish a definitive final outcome for all legal challenges or repeal efforts as of October 8, 2026. The Washington Secretary of State’s 2026 proposed initiatives page concerns initiative proposals and should not be read as a court ruling. For a current status, check official court records and election materials alongside the statute.
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