I would like to share a few local Washington state news articles related to estate planning and death taxes. I have talked about the current estate tax system for both Washington State Estate Taxes as well as the IRS imposed federal Estate Taxes in previous posts, but in summary, the current exemptions are $5 million …
Tag Archive: death taxes
I am often asked about the taxes that could be levied on an estate by the IRS. While the federal estate tax can be significant for those with very large estates, changes to the law at the end of 2010 exempted nearly all estates from such taxes as well as allowing spouses to give their …
Washington State levies a tax on the estate of of residents based upon their total “taxable estate”. The current estate tax, or death tax, rates range from 10% to 19% and are given in the table below. The tax is also applied to non-residents based upon the total property located in Washington State.