FOR IMMEDIATE RELEASE
Contact: Patrick Connor, Washington State Director, patrick.connor@nfib.org,
or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org

OLYMPIA, Wash., March 30, 2026—From Patrick Connor, state director for the National Federation of Independent Business (NFIB) in Washington, on today’s signing of the Millionaire Tax into law.

“As Gov. Bob Ferguson signs Senate Bill 6346 into law today, all Washingtonians should know this is not just a tax on ‘millionaires,’ it is a tax on many local small businesses. The so-called ‘progressive revenue’ it promises to raise targets Main Street but exempts Wall Street. Your favorite local, family-owned restaurant or downtown retail shop may be forced to raise prices or consider closing its doors thanks to the Millionaire Tax, while billion-dollar national chains and big box stores somehow escaped it.

“NFIB and its member small-business owners are not giving up the fight. We are looking at all possible responses—from a legal challenge, to a ballot measure to repeal the tax, to supporting legislative candidates who would vote to rescind it.

“I am proud of the hundreds of small business owners we rallied trying to defeat the Millionaire Tax through our action alerts, landing page, and digital and radio ads. As we pointed out, and will continue to, 85% of small businesses are organized as pass-through entities for federal tax purposes and report their business earnings and expenses on their personal income tax forms. Business earnings are not the same as take-home pay. Very small businesses, those with about $250,000 to $500,000 in annual revenue will see some modest ‘tax relief’ through a partial B&O tax credit. Meanwhile, thousands of pass-through owners will pay higher B&O taxes plus this new income tax. This is not the ‘small business tax relief’ we were promised.”

Keep up with the latest Washington state small business news at www.nfib.com or on X @NFIB_WA or on Facebook @NFIB.WA

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For over 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.

NFIB Washington
111 – 21st Avenue Southwest
Olympia, WA 98501
360-786-8675
NFIB.com
Twitter: @NFIB_WA
Facebook: @NFIB.WA