No Adjustment For The 2019 Washington Estate Tax Exemption?

No Adjustment For The 2019 Washington Estate Tax Exemption?

December 10, 2018

The Washington Department of Revenue has informally stated it does not intend to raise the Washington estate tax exemption for 2019.

 

The exemption was indexed for inflation starting in 2014 using the Seattle-Tacoma-Bremerton metropolitan area. The procedure the Department of Revenue undertakes to adjust the Estate Tax Exemption can be found here. In 2018 the federal government changed the consumer price index areas such that the Seattle-Tacoma-Bremerton metropolitan area no longer exists, and is the Seattle-Tacoma-Bellevue metropolitan area. The Department of Revenue’s informal position is that because of the change, it cannot adjust the exclusion amount.

 

If the informal statement becomes formal, the 2019 estate tax exemption will remain at $2,193,000.00.