Washington Millionaire Tax

State Bills: Washington

Published March 31st, 2026

Detected April 1st, 2026

Summary

The Washington State Legislature enacted SB 6346, establishing a new tax on high-net-worth individuals (millionaires). The bill was signed into law as Chapter 238, Laws of 2026, with sponsors including Senators Pedersen, Chapman, Frame, and 24 other co-sponsors. This represents the state's first dedicated millionaire tax, creating new filing and payment obligations for affected Washington residents.

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What changed

Washington State has enacted SB 6346, establishing a new tax on individuals meeting the million-dollar wealth threshold. The bill, signed into law as Chapter 238, Laws of 2026, applies to Washington residents with net assets or income exceeding the designated threshold. The legislation includes specific reporting requirements, payment schedules, and definitions for calculating taxable wealth.

Affected individuals should review their filing obligations, determine whether they meet the applicability threshold, and ensure compliance with the new reporting requirements by any specified deadlines. The Washington Department of Revenue will likely issue implementing guidance. Non-compliance may result in penalties under state tax law.

What to do next

Determine if individual net assets or income exceed the millionaire tax threshold
Register with Washington Department of Revenue if newly subject to this tax
File initial return and pay any applicable tax by the compliance deadline

Penalties

Penalties for non-compliance under Washington state tax law apply to unpaid taxes and failure to file

Source document (simplified)

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SB 6346 - 2025-26

Establishing a tax on millionaires. Sponsors: Pedersen, Chapman, Frame, Bateman, Orwall, Slatter, Alvarado, Hunt, Lovelett, Riccelli, Shewmake, Valdez, Wellman, Hasegawa, Robinson, Lovick, Conway, Trudeau, Cleveland, Kauffman, Wilson, C., Dhingra, Stanford, Nobles, Saldaña, Salomon Companion bill: HB 2724

Bill status-at-a-glance

As of Tuesday, March 31, 2026 10:32 PM

Current version:

Engrossed substitute - ESSB 6346 (View 1st engrossed)

Current status:

C 238 L 26

Where is it in the process?

Bill status-at-a-glance

As of Tuesday, March 31, 2026 10:32 PM

Current version:

Engrossed substitute - ESSB 6346 (View 1st engrossed)

Current status:

C 238 L 26

Where is it in the process?

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Bill history

View all roll calls on this bill

2026 Regular Session

In the Senate

Feb 4 First reading, referred to Ways & Means. (View original bill) Feb 6 Public hearing in the Senate Committee on Ways & Means at 1:30 PM. (Committee materials) Feb 9 Executive action taken in the Senate Committee on Ways & Means at 10:30 AM. (Committee materials) WM - Majority; 1st substitute bill be substituted, do pass. (View 1st substitute) (Majority report) Minority; do not pass. (Minority report) Minority; without recommendation. (Minority report) Passed to Rules Committee for second reading. Feb 12 Placed on second reading by Rules Committee. Feb 16 1st substitute bill substituted (WM 26). (View 1st substitute) Floor amendment(s) adopted. Rules suspended. Placed on Third Reading. Third reading, passed; yeas, 27; nays, 22; absent, 0; excused, 0. (View 1st engrossed) (View this roll call)

In the House

Feb 17 First reading, referred to Finance. Feb 24 Public hearing in the House Committee on Finance at 8:00 AM. (Committee materials) Feb 27 Executive action taken in the House Committee on Finance at 8:00 AM. (Committee materials) FIN - Majority; do pass with amendment(s). (Majority report) Minority; do not pass. (Minority report) Minority; without recommendation. (Minority report) Mar 2 Referred to Rules 2 Review. Mar 6 Rules Committee relieved of further consideration. Placed on second reading. Mar 9 Committee amendment not adopted. Floor amendment(s) adopted. Rules suspended. Placed on Third Reading. Third reading, passed; yeas, 51; nays, 46; absent, 0; excused, 1. (View this roll call)

In the Senate

Mar 11 Senate concurred in House amendments. Passed final passage; yeas, 27; nays, 21; absent, 0; excused, 1. (View this roll call) Mar 12 President signed.