Bill > HB1376

This bill modifies Washington state tax law to allow taxpayers who owe capital gains tax to prepay their taxes up to six months before the standard due date. Under the proposed legislation, taxpayers can voluntarily submit their capital gains tax payments early, but they must still follow the specific payment procedures established by the state department of revenue. An important consumer-friendly provision is that if the taxpayer is found to have overpaid their taxes during this early payment period, they will not be charged interest on the overpaid amount and may be eligible for a refund. The bill adds a new section to Chapter 82.87 of the Revised Code of Washington (RCW), which governs capital gains taxation, providing more flexibility for taxpayers in managing their tax obligations by allowing advance payments without financial penalty.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=1376&Year=2025&Initiative=false