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Seattle passes big business tax on salaries of top earners after years of false starts

July 8, 2020 /

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Seattle Tax

Seattle’s years-long effort to tax the wealth generated by tech and other lucrative industries crossed a new milestone Monday.

The Seattle City Council voted to approve a tax on the highest salaries at companies in the city with annual payroll expenses of $7 million or higher. The tax will initially fund coronavirus relief and eventually go toward affordable housing and homeless services.

 

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