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[quote=Anonymous][quote=Anonymous]We’ve done a lot of digging into the new income and investment tax proposals. They are likely to pass because they are being sponsored by leadership and/or heads of committees.

OP, if you don’t make $500K+, the new investment and income tax proposals won’t impact you. It’s 8% on $600K+ and 10% on 1M+, and 3.2% on investment income IF your HHI is over $500K.

So the top bracket is 13.2% and would apply to say someone making $1.5M with $300K of that being investment income (rental property, etc). This would be the highest rate in the country if passed.

If you’re below $1M, VA still has less taxes than MD or DC. At the $1M mark, it gets closer and if taxes were your only deciding factor, it’s basically the same across VA, MD, and DC.

Also remember MD has the county tax which adds up once you hit $500K+ too, and DC has a brutal tax on $1M+ income as well.

VA also has much higher job growth and a healthier economy than MD due to the # of corporations here but DCUM gets rabid over that fact (apparently people aren’t aware Google and BLS data exists?). OP you can easily Google the data and see for yourself. [/quote]

Virginia resident here who is thrilled about these new taxes. If we can't eat the rich, let's tax them. If they don't like it, they should move. Don't let the door hit you in the way out. [/quote]

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