Washington Estate Tax 2024. November 14, 2022 by nelson.cpa. So, should you move out of washington state?
The filing thresholds are huge. Washington is one of just 12 states that impose an estate tax (commonly referred to as a death tax) and is the only state without a personal income tax to have.
This Might Solve The Washington Estate Tax Issue, As Washington Presently Has No Claw Back Provisions To.
A higher exemption means more estates may be exempt from the federal tax this.
Washington Is One Of Just 12 States That Impose An Estate Tax (Commonly Referred To As A Death Tax) And Is The Only State Without A Personal Income Tax To Have.
So, should you move out of washington state?
Updating The Estate Tax Exclusion Amount.
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This Year, The Federal Estate And Gift Tax Exemption Amount Increased From $12.06 Million To $12.92 Million Per Individual.
22 published the 2024 zero bracket and unified credit amounts for a decedent’s gross estate for estate tax purposes.
The Law States That The Washington State Exemption Increases.
So if a person’s estate is equal to less than $2.193 million, then it won’t be taxed by washington state upon the person’s death.
Thus, At Your Death You Are Allowed To Pass On $2,193,000 Estate Tax Free At The State Of.
