Fisher Investments is relocating its headquarters from Washington state to Texas in the wake of a court ruling that paves the way for a capital gains tax on financial assets such as stocks and bonds. The move will see the $160 billion asset manager exit the Pacific Northwest state where it was founded and relocate to Plano, Texas. The firm cited the court ruling as the reason for the move, which it said would allow it to better serve its clients.
Currently headquartered in Camas, Clark County, Fisher Investments says it is moving its headquarters to Texas. Whether employees will be moving with the firm remains unclear. The asset manager, founded by Ken Fisher in 1979, has grown to become one of the largest independent investment advisers in the US, with offices across the country.
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PRNewswire/ -- In honor of the Washington State Supreme Court's wisdom and knowledge of the law, and in recognition of whatever it may do to help the citizens of the state, Fisher Investments is relocating its headquarters from Camas, Washington to Plano, Texas. The move comes after the court upheld the constitutionality of a capital gains tax on the sale of financial assets.
The Washington state supreme court on Friday upheld the constitutionality of a capital gains tax on the sale of financial assets such as stocks and bonds. The ruling clears the way for the state to impose a 7% tax on capital gains above $250,000 for individuals and $500,000 for couples. The tax is expected to generate around $415 million in annual revenue for the state.
Fisher Investments is relocating its headquarters to Texas from Washington state after the path was cleared for a capital-gains tax on financial assets. The move, which was announced in a statement on Monday, comes after the Washington State Supreme Court upheld the constitutionality of a 7% tax on capital gains above $250,000 for individuals and $500,000 for couples.
Fisher Investments moved its headquarters from Washington state to Plano following a state Supreme Court ruling in Washington that upheld a 7% capital gains tax on financial assets. The firm, which manages $160 billion in assets, cited the ruling as the reason for the move. The tax is expected to generate around $415 million in annual revenue for the state.
