Over the past two months, the City of Seattle has approved two new taxes. Seattle's City Council approved an income tax on July 10, 2017, imposing a 2.25% tax on resident individuals and certain trusts with total income above $250,000 ($500,000 for joint filers) per year, before adjustments, deductions, and credits. The tax applies to income received on or after Jan. 1, 2018. Additionally, on June 6, 2017, the City Council approved an ordinance imposing a tax on distributors of sweetened beverages in Seattle. The sweetened beverage tax is imposed on a per fluid ounce basis on distributors that distribute such beverages in Seattle beginning Jan. 1, 2018.
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