Bill > HB2019

This bill aims to make the Washington state estate tax more progressive by modifying the tax rates and applicable exclusion amounts for estates. Starting January 1, 2025, the bill increases the tax rates for different estate value brackets, with higher rates applied to larger estates. For example, estates valued between $3 million and $4 million will be taxed at 26%, compared to the previous rate of 16%, while estates valued over $9 million will be taxed at 38%. The bill also adjusts the applicable exclusion amount (the value of an estate exempt from taxation) to $3 million for decedents dying on or after January 1, 2025, and provides for annual adjustments based on the consumer price index. The changes are designed to create a more graduated tax structure where estates with higher values pay proportionally more in taxes. The bill applies both prospectively and retroactively to estates of decedents dying on or after January 1, 2025, and includes provisions to ensure that the act does not invalidate existing rights or ongoing legal proceedings. The bill is declared an emergency measure, taking effect immediately upon passage.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=2019&Year=2025&Initiative=false