Washington HB2019 amends the estate tax to make it more progressive.

Washington HB2019 modifies the estate tax to make it more progressive by adjusting the tax rates and exclusion amounts. For estates of decedents dying on or after January 1, 2025, the tax rates increase with the size of the estate, ranging from 10% to 20%. The applicable exclusion amount, which reduces the taxable estate, is set at $3,000,000 for these estates and is adjusted annually for inflation. This bill affects residents of Washington who leave an estate upon their death.

Washington HB2019 amends the estate tax to make it more progressive.

Washington HB2019 modifies the estate tax to make it more progressive by adjusting the tax rates and exclusion amounts. For estates of decedents dying on or after January 1, 2025, the tax rates increase with the size of the estate, ranging from 10% to 20%. The applicable exclusion amount, which reduces the taxable estate, is set at $3,000,000 for these estates and is adjusted annually for inflation. This bill affects residents of Washington who leave an estate upon their death.