Oppose SB 5096 –State Capital Gains Tax

Written & Distributed From the Offices of Baldwin & Blake,
Public Affairs Consultants

Urging all WLA Members to Electronically Sign in Opposition or Sign in to Testify Virtually to OPPOSE SB 5096
 

1. SB 5096: Concerning an excise tax on gains from the sale or exchange of certain capital assets.

• Implements a 9% Capital Gains tax including a residential dwelling with more than four units. This includes commercial office buildings, manufactured housing, condominiums, self-storage, retail, and floating homes.
• The tax applies to individuals earning over $25,000, and couples earning over $50,000 annually.
• This tax would be in addition to the federal capital gains tax.
• With the Governor’s moratorium on rents not to be raised and unemployment for tenants due to COVID, we are hugely impacting the housing market. You will likely be asked by lawmakers, what percentage of the market for your individual property or industry figures are not paying rent due to these conditions.

 
Sponsors:  Senators: Robinson
By Request: Office of Financial Management
STATUS SB:      Senate Ways and Means Committee
Hearing: Thursday, January 14 at 4:00 p.m.
 
§  To Sign up to Submit written testimony,
§  Testify virtually in Opposition of, or
§  To Provide opposition to be noted for the legislative record, click here.
 
 
Please also contact the members of the Senate Ways & Means Committee 
urging them to OPPOSE SB 5096
 
Senate Ways & Means Committee Members - PDF LINK
Note: Member Contact Info is located on page 2 of the attached PDF
 
Please take action right away!!