Restaurant Owners Take Note: Capital Gains Tax Legislation Proposed for 2016

04/08/15 posted by Dawson Taylor

The proposed legislation to impose a new capital gains tax in Washington State (House Bill 2224) should have little or no immediate effect upon a typical restaurant operator. This is because restaurant owners usually recognize ordinary income from their restaurant operations, not "capital gain" as defined in the Internal Revenue Code and in this bill. Keep Reading »