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homoe · 08-14-2020, 05:09 PM

SEATTLE — The Seattle City Council voted Monday to impose a new payroll tax on big businesses. The measure passed 7-2. This tax targets big earners and the companies that employ them. Companies with more than $7 million in annual payroll will be charged a percentage based on how many people they employ with salaries of at least $150,000. Companies that have billion-dollar payrolls will pay an even bigger share for high wage workers.The tax rate will range from 0.7% to 2.4%, depending on annual payrolls and individual salaries. Lead sponsor of the bill and Councilmember Teresa Mosqueda says the new tax targets companies with many highly paid employees, whereas the 2018 "head tax" would have applied to all employees at large companies.

08-14-2020, 05:09 PM	#4345
homoe Practically Lives Here How Do You Identify?: Butch Relationship Status: ..... Join Date: Nov 2009 Location: 30 minute ferry ride from Seattle Posts: 38,565 My Photo Gallery Thanks: 20,811 Thanked 33,549 Times in 14,914 Posts Rep Power: 21474889	Head Tax failed so now a new payroll tax on big businesses. SEATTLE — The Seattle City Council voted Monday to impose a new payroll tax on big businesses. The measure passed 7-2. This tax targets big earners and the companies that employ them. Companies with more than $7 million in annual payroll will be charged a percentage based on how many people they employ with salaries of at least $150,000. Companies that have billion-dollar payrolls will pay an even bigger share for high wage workers.The tax rate will range from 0.7% to 2.4%, depending on annual payrolls and individual salaries. Lead sponsor of the bill and Councilmember Teresa Mosqueda says the new tax targets companies with many highly paid employees, whereas the 2018 "head tax" would have applied to all employees at large companies.