08/26/26 - Current Tax Environment in Washington State pt.2
Aug 26, 2026 · 28 min · 12 segments
Current Tax Environment in Washington State pt.2
- Speakers
Paul GrantHost
Mark HollandHost
Aug 26, 2026 · 28 min · 12 segments
Current Tax Environment in Washington State pt.2
Paul GrantHostMark HollandHost
Only Hawaii has a s- um, e- exactly the same type of estate tax as Washington S- um, State does.
However, their exemptions are higher, so they, so those numbers don't get implemented until a, until a higher number compared to Washington.
But Washington State, the only community property state that has an estate tax, and the highest in the nation.
And w- we talked about some of the specifics last, last week, and what those numbers are and what it looks like.
They, um, a, a, a short time ago, the estate tax, um, uh, threshold was risen, but then again, the estate tax bracket, how much tax you would have to pay, was jacked up.
And, um, and so is it possible that in the future, specifically if the millionaire's tax doesn't go through, that the estate tax could be back on the board to be pushed back up? And I think all of this creates a lot of insecurity in people.
So the, the problem is, is that we keep talking about taxes, taxes, taxes, and yet there's very few solutions.
And, and last week at the very end of the show, I said, "Look, if you have other family issues, if you've already been thinking towards that, um, a- about leaving the state and moving to an area that has better taxing policies," but yet, uh, if you move to, um, Arizona, then you have an income tax versus the estate tax and sales tax, and they have a sales...
So the question is, um, what do some of the numbers say, but more importantly, where do you want to be? And escaping for political reasons may not always be the best final decision.
Only Hawaii has a s- um, e- exactly the same type of estate tax as Washington S- um, State does.
However, their exemptions are higher, so they, so those numbers don't get implemented until a, until a higher number compared to Washington.
But Washington State, the only community property state that has an estate tax, and the highest in the nation.
And w- we talked about some of the specifics last, last week, and what those numbers are and what it looks like.
They, um, a, a, a short time ago, the estate tax, um, uh, threshold was risen, but then again, the estate tax bracket, how much tax you would have to pay, was jacked up.
And, um, and so is it possible that in the future, specifically if the millionaire's tax doesn't go through, that the estate tax could be back on the board to be pushed back up? And I think all of this creates a lot of insecurity in people.
So the, the problem is, is that we keep talking about taxes, taxes, taxes, and yet there's very few solutions.
And, and last week at the very end of the show, I said, "Look, if you have other family issues, if you've already been thinking towards that, um, a- about leaving the state and moving to an area that has better taxing policies," but yet, uh, if you move to, um, Arizona, then you have an income tax versus the estate tax and sales tax, and they have a sales...
So the question is, um, what do some of the numbers say, but more importantly, where do you want to be? And escaping for political reasons may not always be the best final decision.
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