“This law puts small business owners in our state directly in the crosshairs, while exempting most big businesses. Washington has long been a place where entrepreneurs can thrive — this tax changes that overnight. I do really fear that this is the first step towards an income tax on all Washingtonians.”

So warned Elizabeth Milito, executive director of NFIB’s Small Business Legal Center, about Senate Bill 6346, which Gov. Bob Ferguson signed into law, imposing a so-called millionaire tax of 9.9% on household income above $1 million starting in 2028. A “millionaire tax” for now, but the Legislature could lower that threshold at any time and frequently.

NFIB encourages members to sign the petition to repeal SB 6346, which you can access here through Let’s Go Washington.

LGW also offers answers to six frequently asked questions. NFIB, too, has a landing page, Protect Washington Small Businesses, that answers the following questions:

• Didn’t The Legislature Just Raise Taxes $9 Billion?
• It’s Called A “Millionaire Tax” And I Don’t Make $1 Million, So How Could This Tax Affect Me?
• My Businesses Grosses About $1 Million, Will This Tax Apply to Me?
• Isn’t An Income Tax Against the Law In Washington State?
• Where Would The Money Go? What About Small Business Tax Relief?
• What Is NFIB Doing To Protect My Small Business From This Tax?

July 2 is approaching fast. Sign the petition today. “Qualifying won’t be easy,” reports the Washington State Standard. “State election officials suggest submitting at least 390,000 signatures to account for invalid ones.”