<div dir="ltr"><div><span class="gmail_default" style="font-family:arial,sans-serif">Greetings List Members - </span><br clear="all"></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">Last night the Washington House of Representatives passed SB 5813, with two amendments.  It is NOT YET signed by the Governor....but here is what has been agreed to between the House and the Senate: </span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">1) The Estate Tax Exemption Level will be adjusted to $3,000,000, to be adjusted annually with the CPI report that includes the City of Seattle....hopefully forever preventing a future "stall" in adjustments when the CPI report changes its name. </span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">2) The Tax Brackets remain the same. </span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">3) The Tax Rates for the respective brackets will change, with the top effective tax rate being 35%, here is the table: </span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">Washington Taxable Estate, the Current Rate, and the New Rate</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">$0 to $1,000,000, old rate 10%, new rate 10%</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">$1,000,000 to $2,000,000, old rate 14%, new rate 15%</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">$2,000,000 to $3,000,000, </span><span style="font-family:arial,sans-serif">old rate<span class="gmail_default" style="font-family:arial,sans-serif"> </span></span><span style="font-family:arial,sans-serif">15%, <span class="gmail_default" style="font-family:arial,sans-serif">new rate </span>17%</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">$3,000,000 to $4,000,000, </span><span style="font-family:arial,sans-serif">old rate<span class="gmail_default" style="font-family:arial,sans-serif"> </span></span><span style="font-family:arial,sans-serif">16%, <span class="gmail_default" style="font-family:arial,sans-serif"></span></span><span style="font-family:arial,sans-serif">new rate<span class="gmail_default" style="font-family:arial,sans-serif"> </span></span><span style="font-family:arial,sans-serif">19%</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">$4,000,000 to $6,000,000, </span><span style="font-family:arial,sans-serif">old rate<span class="gmail_default" style="font-family:arial,sans-serif"> </span></span><span style="font-family:arial,sans-serif">18%, <span class="gmail_default" style="font-family:arial,sans-serif"></span></span><span style="font-family:arial,sans-serif">new rate<span class="gmail_default" style="font-family:arial,sans-serif"> </span></span><span style="font-family:arial,sans-serif">23%</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">$6,000,000 to $7,000,000, </span><span style="font-family:arial,sans-serif">old rate</span><span style="font-family:arial,sans-serif">19%, <span class="gmail_default" style="font-family:arial,sans-serif"></span></span><span style="font-family:arial,sans-serif">new rate<span class="gmail_default" style="font-family:arial,sans-serif"> </span></span><span style="font-family:arial,sans-serif">26%</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">$7,000,000 to $9,000,000, old rate 19.5%, </span><span style="font-family:arial,sans-serif">new rate<span class="gmail_default" style="font-family:arial,sans-serif"> </span></span><span style="font-family:arial,sans-serif">30%</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"> $9,000,000 and up, old 20%, new rate 35%</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">What is NOT yet agreed to.....</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">When this will take effect. Senate version has it go back to January 1, 2025 (good for those over 2.193, and below $3,000,000......bad for those in the top two tack brackets).   The House version has this taking effect on July 1, 2025. </span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">Also, the house version included the qualified non-familial heir. </span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">It is my personal belief that both of these house amendments will pass the Senate version....</span></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">Please note that the Governor has not weighed in on this specific topic (publically)....but I believe that this will be signed into law. </span></div><div><br></div><div><div class="gmail_default" style="font-family:arial,sans-serif">To everyone who helped us lobby in our PERSONAL capacities as practitioners and citizens. Thank you. When we went to Olympia in support of the first bill that simply sought to fix the inflation indexing, the comments and support of the over 200 signatories to our letter made an impact. </div><div class="gmail_default" style="font-family:arial,sans-serif"><br></div><div class="gmail_default" style="font-family:arial,sans-serif">Should I be re-elected to the RPPT Executive Committee again, I will propose a prospective plan where those who wish to follow legislation can "opt-in" and be kept appraised.  The bill that passed both the House and Senate was made public last week (during Spring Break and Easter Holiday) and the Senate hearing was given less than 24 hours notice. </div><div class="gmail_default" style="font-family:arial,sans-serif"><br></div><div class="gmail_default" style="font-family:arial,sans-serif">For future bills and laws, we will want to put into place a rapid response plan. </div><div class="gmail_default" style="font-family:arial,sans-serif"><br></div><div class="gmail_default" style="font-family:arial,sans-serif">Thank you and stay tuned for the final update after the Governor takes action!</div><div class="gmail_default" style="font-family:arial,sans-serif"><br></div><div class="gmail_default" style="font-family:arial,sans-serif">Brent</div><br></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div dir="ltr"><p><b><span style="font-family:"Times New Roman",serif">Brent
Williams-Ruth</span></b><span style="font-family:"Times New Roman",serif"> (pronouns: he/him)<br>
<i>Attorney-At-Law</i></span></p><p><b><span style="font-family:"Times New Roman",serif">Law
Offices of Brent Williams-Ruth, </span></b><b><span style="font-family:"Times New Roman",serif"><font size="1">a division of BWR Consulting, PLLC</font></span></b><b><span style="font-family:"Times New Roman",serif"></span></b></p><p><b><span style="font-family:"Times New Roman",serif">Physical Address: 500 S 336th Street, Suite 214; Federal
Way, WA 98003</span></b><span style="font-family:"Times New Roman",serif"></span></p><p><b><span style="font-family:"Times New Roman",serif"><font color="#ff0000">Mailing Address:</font> </span></b><b><span style="font-family:"Times New Roman",serif">PO BOX 3319; Federal Way, WA 98063 </span></b></p><p><span style="font-family:"Times New Roman",serif">Office/Scheduling
Phone:<span style="color:#004080"> </span><font color="#ff0000">(253) 285-7751</font></span></p><p><font color="#ff0000" face="Times New Roman, serif">For All Meetings & Scheduling: <a href="mailto:info@williams-ruthlaw.com" target="_blank">info@williams-ruthlaw.com</a></font></p><p>









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