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State Taxes Estate Tax Tax Liability

Holland & Knight LLP

Washington State Budget Triggers Higher Business, Capital Gains and Estate Taxes in 2025

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Thanks to three primary revenue bills that were signed into law earlier this year, taxes are going up in the state of Washington, in particular for large service businesses, estates and individuals earning capital gains. ...more

A&O Shearman

Summary of key provisions in House reconciliation bill

A&O Shearman on

On May 22, 2025, the U.S. House of Representatives narrowly passed the House budget reconciliation bill (H.R. 1) (the “House Bill”) by a party-line vote of 215 – 214. The House Bill, which includes significant tax law...more

Ballard Spahr LLP

WA Estate and Capital Gains Tax Changes Under SB 5813

Ballard Spahr LLP on

Facing a projected budget deficit of $12 to $16 billion, Governor Bob Ferguson signed several bills into law this week which will significantly increase taxes in Washington State. An overview of the increases to Business and...more

Ballard Spahr LLP

Washington State Passes Significant Tax Increases Affecting Both Businesses and Consumers

Ballard Spahr LLP on

Sweeping legislative changes are reshaping Washington state’s tax landscape. On May 20, 2025, Washington’s governor signed legislation significantly increasing the Business and Occupation (B&O) tax, sales tax, and more,...more

Davis Wright Tremaine LLP

Nonresidents Beware: Oregon's and Washington's Fractional Formula and Apportionment Rules Apply to In-State Property

At $13.99 million for 2025, the federal estate tax exclusion is the largest it has ever been, but it will be reduced by half in 2026, which you can read more about in this advisory....more

Offit Kurman

Maryland’s 2025 Budget Proposal: Changes to Estate Taxes and What They Mean for Estate Planning

Offit Kurman on

Recent Maryland proposed budget cause for close estate planning review before the sunset of the federal Tax Cuts and Jobs Act. This week, Maryland Governor Wes Moore released his proposed 2025 budget to the public and...more

Rivkin Radler LLP

Thinking About ‘Avoiding’ NY Tax Increases? Then Think About The False Claims Act

Rivkin Radler LLP on

According to Justice Learned Hand, “Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to...more

Sheppard Mullin Richter & Hampton LLP

Congress Passes Final Tax Reform Bill: U.S. Tax Reform: The Current State of Play

With the affirmative vote in the House today, both Houses of Congress have now passed a final version of the Tax Cuts and Jobs Act, clearing the legislation for President Trump’s signature. President Trump is widely expected...more

Goodwin

Year-End Tax Planning, Tax Reform and Proposed 2704 Regulations Withdrawn

Goodwin on

With the end of year approaching, now is the time to consider making gifts to lower your federal and state estate tax liability. That tax liability, however, could change with impending federal tax reform. Regardless of the...more

McDermott Will & Emery

How Far Back Can a Back Tax Go? Petition for Certiorari in Hambleton Asks Supreme Court to Right Unjust Retroactivity

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Retroactivity is an endemic problem in the state tax world. In this year alone, we have seen retroactive repeal of the Multistate Tax Compact (MTC) in Michigan, as well as significant retroactivity issues in New York, New...more

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