[WSBAPT] WA Estate Tax Legislative Update - Proposed increase to Estate Tax Rates

[Liberty Upton]

This is an update on the proposed bills that impact the Washington estate tax exemption and estate tax rates.


  *   NEW HB 2019 - making the estate tax more progressive: a hearing is scheduled for Tuesday 2/25 at 8:00 AM. This does not give us enough time to write another group letter to present at the hearing. If you want to make your opinion known on this bill, please sign up to submit oral or written testimony here: https://app.leg.wa.gov/csi/House?selectedCommittee=31643&selectedMeeting=32893
     *   This bill does increase the estate tax exemption to $3M for deaths after 1/1/2025, and it does fix the CPI index name issue.
     *   BUT it also significantly changes the estate tax rates as follows:

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  *   HB 1375 - adjusting the estate tax exclusion amount for inflation: there was a hearing on 2/20/25 by the House Committee on Finance https://app.leg.wa.gov/BillSummary/?BillNumber=1375&Year=2025&Initiative=false
     *   Thank you to everyone who signed on to support this bill (it was discussed in the hearing). Unfortunately, it is unlikely that this bill will move forward because a new bill (HB 2019) that proposes more extensive changes to RCW 83.100.020 was added to the docket on Friday. In short, HB 1375 adds to the budget deficit and is unlikely to move out of the committee. Whereas HB 2019 will bring in more revenue for the state.



  *   SB 5405 - updating the inflation adjustment for the estate tax exclusion amount: there was a hearing on 2/4/25 by the Senate Committee on Ways & Means https://app.leg.wa.gov/billsummary?BillNumber=5405&Year=2025&Initiative=False







Liberty Upton
Attorney
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Tel (206) 382-4414  (ex. 232) / Fax (206) 382-4412 / lupton at khbblaw.com<mailto:lupton at khbblaw.com>
705 Second Avenue / Suite 800 / Seattle, WA 98104 / www.khbblaw.com<http://www.khbblaw.com/>

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