https://www.seattletimes.com/seattle-news/politics/wa-house-approves-delaying-payroll-tax-for-wa-cares-until-july-2023/ Looking at above news, I have a question. I went for Whole Life Policy (instead of the LTC policy most got) to meet the Nov 1st deadline. My policy is still cancellable. I was wondering if I cancel it today, in future will it challenge my exemption applied to WA state? (as I won't meet the Nov 1 criteria if I cancel the policy now).
all this LTC exemption stress is not worth the 🥜 tax you'd be saving
Senate has approved
That’s the golden question… they technically delayed the tax until at least later this year pending updating the law. One of the things they were looking at is if it’s possible to enforce a routine verification. My guess is no, since this is already a dumpster fire, being challenged on if it’s even legal etc. but I’m keeping mine until it’s confirmed safe to cancel. Edit: ahh I see until 2023 it’s delayed lol my guess is this keeps getting delayed. The big problem is paying into a program that you can only use if you retire in WA. I bet it ends up being a stripped down, opt in version of the current law. We’ll see tho