Washington state: it’s not just the increased taxes that are driving businesses away

The narrative around businesses leaving Washington State often focuses on taxes, but the underlying drivers run deeper. In this presentation, attorney and CPA Chad D. Cummings examines how legislative trajectory, policy uncertainty, and structural hiring challenges are influencing relocation decisions alongside the state’s capital gains tax and proposed 9.9 percent income tax on high earners. Drawing on a real-world account of a financial services firm that relocated its entire operation out of Washington, the discussion highlights how instability, talent competition driven by large technology employers, and rising costs can compound into a decision to leave. The presentation also explains why these departures carry broader economic consequences beyond lost tax revenue, and why business owners must evaluate whether their company’s legal domicile aligns with where they actually operate. Learn more: https://www.cummings.law/redomestication/