The bill amends the Washington estate tax laws, specifically RCW 83.100.020 and RCW 83.100.040, to adjust the applicable exclusion amounts and tax rates for estates based on the date of the decedent's death. Notably, the applicable exclusion amount for estates of decedents dying on or after January 1, 2026, is set at $3,076,000 for those dying before July 1, 2026, and will revert to $3,000,000 for those dying on or after July 1, 2026. Additionally, for estates of decedents dying in calendar year 2027 and thereafter, the exclusion amount will be adjusted annually based on the consumer price index.

The bill also revises the tax rates applicable to Washington taxable estates. For estates of decedents dying on or after July 1, 2025, but before July 1, 2026, the tax rates are increased, with a new table introduced to reflect these changes. Furthermore, a new tax table is established for estates of decedents dying on or after July 1, 2026, which maintains the previous tax structure but with updated figures. The bill emphasizes that the estate tax is independent of any federal estate tax obligations and is not affected by the termination of the federal estate tax.

Statutes affected:
Original bill: 83.100.040
Engrossed bill: 83.100.040
Bill as passed Legislature: 83.100.020, 83.100.048
Session law: 83.100.020, 83.100.048