Economy of Washington (state)

The 2009 total gross seasonally adjusted unemployment rate was 7%.

The history of Washington includes thousands of years of Native American history before Europeans and Americans arrived and began to establish territorial claims. The region was part of Oregon Territory from 1848 to 1853, after which it was separated from Oregon and established as Washington Territory. In 1889, Washington became the 42nd state of the United States.

The state of Washington is one of only seven states that does not levy a personal income tax. The state also does not collect a corporate income tax or franchise tax. However, Washington businesses are responsible for various other state levies. One tax Washington charges on most businesses is the business and occupation tax (B & O), a gross receipts tax which charges varying rates for different types of businesses.

Washington's state base sales tax is 6.5% which is combined with a local rate. As of April 2017, the rate will be 10.1% in Seattle and other cities. These taxes apply to services as well as products. Most foods are exempt from sales tax; however, prepared foods, dietary supplements and soft drinks remain taxable. The combined state and local retail sales tax rates increase the taxes paid by consumers, depending on the variable local sales tax rates, generally between 8 and 9%.

An (ex) applies to certain select products such as gasoline, cigarettes, and alcoholic beverages. Property tax was the first tax levied in the state of Washington and its collection accounts for about 30% of Washington's total state and local revenue. It continues to be the most important revenue source for public schools, fire protection, libraries, parks and recreation, and other special purpose districts.

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