The Seattle City Council has approved a new tax on the city’s largest business and its highest earners. The bill is called "JumpStart Seattle" and was passed on Monday with a 7-2 vote. It is expected to take effect in 2021. The money from this part of the tax will be used initially to fund the coronavirus outbreak, but it will eventually be used to solve the housing and homelessness problem in Seattle.
According to the taxation standard of this law: the annual salary expenditure is greater than or equal to 7 million US dollars, the amount paid to Seattle employees will be levied a tax of 0.7% to 2.4%, and the specific tax amount will be graded. Companies such as Amazon, which spend more than $1 billion, will be charged the highest level of tax. These companies will pay a 2.4% tax on the amount paid to employees whose personal salaries exceed 400,000. This decision is a blow to Amazon, which currently refuses to comment on "JumpStart" legislation. source