Is there a limit to the amount of estate taxes owed on an intestate estate?
In Washington, estate taxes are assessed when an estate is passed on to heirs through intestacy, or estate distribution without a valid will. These taxes are regulated by state and federal government, which could include an estate tax. In Washington, there is an estate tax with a cap on how much someone owes. The estate tax rate for an intestate estate in Washington depends on the size of the taxable estate. Currently, the estate tax rate for taxable estates between $2.193 million and $3.193 million is 10 percent on the amount over $2.193 million. There is no estate tax on taxable estates under $2.193 million. For taxable estates over $3.193 million, the estate tax rate is 12 percent on the amount over $3.193 million. For an intestate estate, there is a maximum total estate tax liability of 20 percent or $2.193 million plus 20 percent of the amount over $2.193 million. For example, for an estate valued at $5 million, the estate tax liability would be $2.193 million plus 20 percent of $2.807 million, which is $561,400, for a total estate tax liability of $2.754 million. In conclusion, there is a limit to the amount of estate taxes owed on an intestate estate in Washington and that limit is determined by the size of the estate. Additionally, the estate tax rate is progressive, meaning the rate increases as the estate size increases.
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