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DISTRICT OF COLUMBIA COUNCIL VOTES TO INCREASE TOP TAX RATES FOR INDIVIDUALS

DISTRICT OF COLUMBIA COUNCIL VOTES TO INCREASE TOP TAX RATES FOR INDIVIDUALS

The Washington D.C. Council voted this week to increase the tax rates for individuals earning over $250,000. Currently, the maximum individual income tax rate is 8.95 percent.

If it passes final approval, the budget amendment would increase the tax rate for individuals to:

  • 9.25 percent for income above $250,000
  • 9.75 percent for income above $500,000
  • 10.75 percent for income over $1,000,000

UHY will continue to monitor these and any other tax law changes and provide updates as new legislation is passed. If you have any questions about how this affects you, please reach out to a UHY professional.

 

07/21/2021

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