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Massachusetts started the trend, passing a so-called millionaires tax in 2022.
Several states have floated the idea of a wealth tax, with varying degrees of success.
Here are eight states that have considered wealth taxes.
Also seethree ways taxing the rich would help the middle class and two ways it wouldnt.
Though the referendum was passed, it remains uncertain whether this will be enacted, per theChicago Sun Times.
Maryland
Maryland Gov.
Taxpayers earning $500,000 (or $600,000 for a couple) would see less of an increase.
Those earning over $350,000 would pay an additional 1% on capital gains.
Marylands state budget, which included these tax changes, was recently passed, as reported byWBAL.
The bill has passed the Senate Judiciary Committee but has not yet been made law.
If passed, the law would become effective on Jan. 1, 2030.
The House bill proposes a tax onstocks, bonds, mutual funds and some other financial assets.
Pensions, retirement accounts and education savings accounts would not be taxed.
Bob Ferguson has indicated he will veto a wealth tax thats used to balance the budget.
There is no new wealth tax bill currently in the California legislative pipeline.
New York
Wealthy New Yorkers already pay a higher state tax rate thanthose with more moderate wealth.
These tax surcharges are effective until 2027, though they could be extended.
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