Conservatives hopeful for Supreme Court action on capital gains tax case

Just months after the Washington Supreme Court ruled that a capital gains tax enacted by the state is constitutional, one anti-tax group awaits a decision from the nation’s highest court on whether to hear its case.

" "This understanding of the tax is consistent with a long line of precedent recognizing excise taxes as those levied on the exercise of rights associated with property ownership, such as the power to sell or exchange property, in contrast to property taxes levied on property itself," she continued. Critics say this new precedent, if upheld, could open the door to politicians taxing out-of-state transactions.

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