
A Few Things Everyone Should Know About the WA Cares Fund
Washington is the first state in the nation to create a trust to fund long-term care costs for its residents, which will be funded through a mandatory payroll tax of .0058 percent. Effective Jan. 1, 2022, all W2 employees will be taxed $0.58 per $100 of income, with no cap on wages. Self-employed earners can opt-in to the program when the state makes applications available in January 2022.
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