Nonprofit Quick Tip: State Filings in Washington and Oregon
Nearly 140 years ago, the United States Supreme Court first recognized that one who causes harm to another should not financially benefit from the estate of the harmed person. In Mutual Life v. Armstrong, the defendant was...more
Since 2018, estate planning legislation in Washington has remained stagnant. Increases in our legislated estate tax exemption rate had been tied to a Consumer Price Index that no longer existed, and the legislature largely...more
Washington concluded an eventful legislative session with the largest set of tax increases in the state's history. This Update focuses on two significant changes that affect Washington residents and a senate bill proposal...more
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
Washington state recently enacted some changes that may impact married couples and registered domestic partners. Under the new Spousal Personal Residence Exclusion, when a spouse/partner passes away on or after January 1,...more
The Washington Court of Appeals has held that investment funds are subject to Washington state business and occupation (B&O) tax on their investment income. Although Washington law allows taxpayers to deduct “amounts derived...more
In the State of Washington, a life estate is a legal arrangement where a person, known as the “life tenant,” has the right to use and occupy a property for the duration of his or her life. The life tenant has all the same...more