[WSBARP] WA Estate Tax Leg Update - Proposed Increase to Estate Tax Rates

[Brent Williams-Ruth]

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:*



   - *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



*Brent Williams-Ruth* (pronouns: he/him)
*Attorney-At-Law*

*Law Offices of Brent Williams-Ruth, **a division of BWR Consulting, PLLC*

*Physical Address: 500 S 336th Street, Suite 214; Federal Way, WA 98003*

*Mailing Address: **PO BOX 3319; Federal Way, WA 98063 *

Office/Scheduling Phone: (253) 285-7751

For All Meetings & Scheduling: info at williams-ruthlaw.com

e-mail <Brent at Williams-RuthLaw.com> / website
<http://www.williams-ruthlaw.com/> / facebook
<http://www.facebook.com/bwrlaw> /
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