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Tag: estate tax

June
13th

UPDATE – House passes estate tax bill on 55-33 vote; deal with Senate GOP exempts some family-owned business assets

UPDATE: The House vote on the new version of the estate tax passed on a 53-to-33 vote this morning. A few Republican members objected to making the law retroactive to include certain estate trusts formed prior to 2005 that are now eligible for tax refunds after a 2012 court ruling.

Republican Reps. Gary Alexander of Thurston County and Chad Magendanz of Issaquah voted with Democrats in favor. Alexander said he had qualms about the policy but thought the bill might ease the budget stalemate.

 

ORIGINAL POST: House Majority Leader Pat Sullivan and Finance Committee chair Reuven Carlyle say they and

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June
12th

UPDATE: State Revenue Dept. to send out 10 estate-tax refunds worth $13 million starting Friday

UPDATE: Gov. Jay Inslee‘s office says estate tax refund checks won’t actually go into the mail until Friday morning, which is when the Revenue Department is back in court on another lawsuit seeking a refund under the Supreme Court’s 2012 ruling. Meantime,  Senate and House lawmakers are in talks to seek if they can get a deal done by midnight Thursday.

ORIGINAL POSTWith no legal fix immediately in the offing for Washington state’s estate tax, the Department of Revenue is moving ahead and issuing $13 million worth of refunds – plus

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June
4th

UPDATE – Gov. Inslee again slaps Senate Republicans’ estate tax plan

 

Gov. Jay Inslee took big shots today at a Senate Majority Coalition Caucus plan to lower estate-tax rates for wealthy families and also to exempt two-thirds of the 300 estates that now pay the voter-affirmed tax each year. In a news conference just one week before the scheduled end of a 30-day legislative session, Inslee said the Republican-led coalition was moving in the wrong direction by favoring millionaires with a tax cut over the state’s 1 million children enrolled in public schools.

The estate tax, which lawmakers approved in 2005 and voters affirmed in a 2006 initiative challenge, has

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May
29th

UPDATE – Déjà vu on estate tax: House Finance OKs new version of bill on party-line vote

 

The House Finance Committee voted (8 to 3) along party lines this morning to close a loophole in Washington’s estate tax that was created by a Supreme Court ruling in the Bracken case last year. Lawmakers say the ruling left married couples’ estates untaxed, while single persons’ estates would be subject to the tax on estates valued at more than $2 million.

House Bill 2064 now goes to the House floor for a vote on Thursday – having to go through the process a second time because it did not pass the Senate in

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