WA People
BILL · 2025–26 SESSION

HB 2046: Intangible assets tax

Creating fairness in Washington's tax by imposing a tax on select financial intangible assets.

Summary

  • Establishes a tax on certain financial intangible assets at a rate of $8 per $1,000 of the true and fair value of the assets.
  • Provides an exemption from the tax for the first $50 million in taxable assets held.

From the House Bill Analysis 2025 (HB 2046), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedMar 24, 2025
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
April Berg (D-44)
Introduced
March 24, 2025 in the House
Last action
January 12, 2026
Budget
Has a fiscal note

AN ACT Relating to creating fairness in Washington's tax code to support Washington families and fund vital investments in K-12 schools by imposing a tax on select financial intangible assets valued at more than $50,000,000;

Sponsors

Prime sponsor: April Berg (D-44)

20 co-sponsors (20 Democrats, 0 Republicans)

Chipalo Street D-37Sharon Tomiko Santos D-37Strom Peterson D-21Mary Fosse D-38Gerry Pollet D-46Cindy Ryu D-32Timm Ormsby D-3Lisa Parshley D-22Nicole Macri D-43Mia Gregerson D-33Liz Berry D-36Sharon Wylie D-49Beth Doglio D-22Darya Farivar D-46Julia Reed D-36Kristine Reeves D-30Natasha Hill D-3Shaun Scott D-43Lisa Callan D-5Alex Ramel D-40

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. First reading, referred to Finance.

HB 2046 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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