Washington state estate tax chart
What is the estate tax? The estate tax is a tax on the right to transfer property at the time of death. A Washington decedent or a non-resident decedent who owns property in Washington State may owe estate tax depending on the value of their estate. Estate tax forms, rules and information are specific to the date of death. Estate tax rates in Washington state are progressive and range from 10% to 20%. The estate tax in Washington applies to estates worth $2.193 million and up. If you’re a Washington resident and you’re starting to think about estate planning, this guide takes a deep dive into everything you need to know. Twelve states and the District of Columbia impose estate taxes and six impose inheritance taxes. Maryland is the only state to impose both. Washington State’s 20 percent rate is the highest estate tax rate in the nation, although Hawaii is set to increase its top rate to 20 percent effective January 1, 2020. Eight states and the District of Columbia are next with a top rate of 16 percent.