In a March 30 news release sent by NFIB, Washington state’s leading small business association, expressed its big disappointment with Gov. Bob Ferguson’s signing of Senate Bill 6346 into law.

The so-called ‘Millionaire Tax’ creates a 9.9% income tax on households earning more than $1 million annually. But this falsely advertised tax does not limit itself to just millionaires. It will effectively operate as an income tax on sole proprietors and small-business owners organized as pass-through entities—85% of small businesses use this tax status.

SB 6346’s slim passage in the House (51-46), narrow approval in the Senate (27-22), and the thousands of Washington residents who used the Legislature’s online sign-in system to voice their opposition to the Millionaire Tax show big cracks in the measure’s support.

The Battle Continues

NFIB is now working to build a coalition to stop the income tax from taking effect, either through the courts or by ballot initiative.

We are asking our members and all small business owners to arm yourselves with the facts by clicking the links below and to keep up with the latest information on the Washington page of the NFIB website, www.nfib.com/washington.

2026 NFIB Web Stories

March 30—Comment on the Signing of Millionaire Tax into Law

March 14—Ask Gov. Ferguson to Veto the Millionaire Tax

March 14—Media Echo NFIB Concerns About Millionaire Tax

March 11—Post-Millionaire-Tax Vote Comment

March 2—NFIB Launches Radio, Digital Ads to Stop State Income Tax

February 27—Millionaire Tax Advances

February 23—NFIB Launches Campaign to Oppose Millionaire Tax

February 20—Millionaire Tax Proposal Begins House Journey

February 18—NFIB Takes Opposition to Millionaire Tax to the Airwaves

February 16—Please Act Now!—Stop Senate Bill 6346

February 1—Voice Your Opinion on the Millionaire Tax

January 25—No Small Business Relief in Millionaire Tax Bill