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

[Brent Williams-Ruth]

That is a great question!  The reason is because the table is showing the
TAXABLE estate amount. So the first $3 million is exempt. I will confess
that when I read the bill last friday I had the same double take.

Thank you for asking the question - I am sure others were curious as to the
same thing!

*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> /


On Sun, Feb 23, 2025 at 4:39 PM Randy Boyer <randyedlynlaw at gmail.com> wrote:

> Why do the charts in the bill show tax is due after $1,000,000.00?
> Shouldn’t the charts say 0 tax up to 3,000,000.00?
>
>
>
> Randy
> *Randy M. Boyer                                                 ______*
> Attorney, WSBA# 8665
> Law Office of Randy M. Boyer, Inc. P.S.
> 7017 196th St. S.W.  Lynnwood, Washington 98036
> ( *425.712.3107*|   Fax 425.778.2274
> mail to: randyedlynlaw at gmail.com
>
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> On Feb 23, 2025, at 2:25 PM, Brent Williams-Ruth <
> brent at williams-ruthlaw.com> wrote:
>
> 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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