What you need to know about Washington state's estate tax
Just like in years past, 2023 brings changes to taxes on high net worth estates. This is especially important in Washington state, one of only 17 s...
Just like in years past, 2023 brings changes to taxes on high net worth estates. This is especially important in Washington state, one of only 17 states with a state estate or inheritance tax, and in the Puget Sound area, where many individuals have accumulated wealth through high-paying jobs and appreciation of the real estate they own. Washington has an estate tax that is imposed on the value of an individual's estate based on the language in state law RCW 83.100. Gifts to charitable organizations reduce the value of an individual's Washington taxable estate.