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HB 2019 - Estate tax ¶

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Section 1 ¶

The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.

Section 2 ¶

1. A tax in an amount computed as provided in this section is imposed on every transfer of property located in Washington. For the purposes of this section, any intangible property owned by a resident is located in Washington.

2. [Empty]

   1. (i) For estates of decedents dying before January 1, 2025, except as provided in (b) of this subsection, the amount of tax is the amount provided in the following table:

If Washington Taxable

The amount of Tax Equals

Of Washington Taxable Estate Value Greater than

Estate is at least

But Less Than

Initial Tax Amount

Plus Tax Rate %

$0

$1,000,000

$0

10.00%

$0

$1,000,000

$2,000,000

$100,000

14.00%

$1,000,000

$2,000,000

$3,000,000

$240,000

15.00%

$2,000,000

$3,000,000

$4,000,000

$390,000

16.00%

$3,000,000

$4,000,000

$6,000,000

$550,000

18.00%

$4,000,000

$6,000,000

$7,000,000

$910,000

19.00%

$6,000,000

$7,000,000

$9,000,000

$1,100,000

19.50%

$7,000,000

$9,000,000

$1,490,000

20.00%

$9,000,000

    ii. For estates of decedents dying on or after January 1, 2025, except as provided in (b) of this subsection, the amount of tax is the amount provided in the following table:

If Washington Taxable

The amount of Tax Equals

Of Washington Taxable Estate Value Greater than

Estate is at least

But Less Than

Initial Tax Amount

Plus Tax Rate %

$0

$1,000,000

$0

16.00%

$0

$1,000,000

$2,000,000

$160,000

17.00%

$1,000,000

$2,000,000

$3,000,000

$330,000

20.00%

$2,000,000

$3,000,000

$4,000,000

$530,000

26.00%

$3,000,000

$4,000,000

$6,000,000

$790,000

31.00%

$4,000,000

$6,000,000

$7,000,000

$1,410,000

35.00%

$6,000,000

$7,000,000

$9,000,000

$1,760,000

36.00%

$7,000,000

$9,000,000

$2,480,000

38.00%

$9,000,000

b. If any property in the decedent's estate is located outside of Washington, the amount of tax is the amount determined in (a) of this subsection multiplied by a fraction. The numerator of the fraction is the value of the property located in Washington. The denominator of the fraction is the value of the decedent's gross estate. Property qualifying for a deduction under RCW 83.100.046 must be excluded from the numerator and denominator of the fraction.

3. The tax imposed under this section is a stand-alone estate tax that incorporates only those provisions of the internal revenue code as amended or renumbered as of January 1, 2005, that do not conflict with the provisions of this chapter. The tax imposed under this chapter is independent of any federal estate tax obligation and is not affected by termination of the federal estate tax.

Section 3 ¶

This act applies prospectively as well as retroactively to estates of decedents dying on or after January 1, 2025.

Section 4 ¶

This act does not affect any existing right acquired or liability or obligation incurred under the sections amended or repealed in this act or under any rule or order adopted under those sections, nor does it affect any proceeding instituted under those sections.

Section 5 ¶

If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected.

Section 6 ¶

This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately.

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