Seattle Shield Initiative Proposes Raising B&O Tax Exemption to $2M, Increasing Rates for Large Tech Firms Starting November Vote

Seattle voters will decide in November on the Seattle Shield initiative, which raises the B&O tax exemption from $100,000 to $2 million, relieving small businesses but increasing taxes for larger ones. For tech startups, this means early-stage companies pay less in taxes, while those scaling past $2 million in revenue will face higher rates.