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WA SB5405
Bill
Status
1/21/2025
Primary Sponsor
Mark Schoesler
Click for details
AI Summary
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Sets the Washington estate tax exclusion amount at $2,193,000 for decedents dying before January 1, 2026
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Beginning in calendar year 2026, the exclusion amount will be adjusted annually for inflation based on changes in the Consumer Price Index since October 2024
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Updates the baseline year for inflation calculations from October 2012 to October 2024, effectively resetting the inflation adjustment mechanism
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Changes the Consumer Price Index reference from "Seattle-Tacoma-Bremerton" to "Seattle metropolitan area" to reflect current Bureau of Labor Statistics geographic designations
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Exempts the bill from tax preference performance statement requirements under RCW 82.32.805 and 82.32.808
Legislative Description
Updating the inflation adjustment for the estate tax exclusion amount.
Last Action
By resolution, reintroduced and retained in present status.
1/12/2026