What is the tax rate for small business owners?

In Washington, small business owners are subject to a progressive income tax rate. This means that the more money they make, the higher the percentage of their income they have to pay in taxes. The tax rate for small businesses varies depending on their total income. The state has a tiered tax system, with different rates for different levels of income. For example, individuals making up to $25,000 per year are taxed at a rate of 0%, while those making between $25,000 and $50,000 are taxed at a rate of 3.2%. Those making between $50,000 and $100,000 are taxed at a rate of 5.6%. Those making over $100,000 are taxed at a rate of 7.9%. The rate may also be further adjusted depending on other factors, such as deductions or credits. However, all small businesses in Washington must register and pay taxes as required by law.

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What is the tax rate for small business owners?

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