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WashingtonSB 58132025-2026 Regular SessionSenateWALLET

Increasing funding to the education legacy trust account by creating a more progressive rate structure for the capital gains tax and estate tax.

Sponsored By: Claire Wilson (Democratic)

Became Law

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 1 costs, 1 mixed.

Extra tax on $1M+ capital gains

Starting January 1, 2025, Washington adds 2.9% on the part of an individual’s Washington capital gains over $1,000,000. That makes the rate on that slice 9.9%. The tax applies to sales of long‑term capital assets by individuals. It counts as a 2025 tax, and the state collects it in 2026.

Estate tax: higher rates, bigger exclusion

For deaths on or after July 1, 2025, Washington sets a $3,000,000 estate tax exclusion. Starting in 2026, the exclusion rises each year with inflation and never goes down. Estate tax rates also rise, with a top 35% rate on amounts over $9,000,000. The family‑owned business deduction cap is $3,000,000 for deaths on or after July 1, 2025, and it is indexed each year. If some property is outside Washington, the tax is scaled to the Washington share.

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Sponsors & Cosponsors

Sponsor

  • Claire Wilson

    Democratic • Senate

Cosponsors

  • Derek Stanford

    Democratic • Senate

  • Emily Alvarado

    Democratic • House

  • Jamie Pedersen

    Democratic • Senate

  • Javier Valdez

    Democratic • Senate

  • Noel Frame

    Democratic • Senate

  • T'wina Nobles

    Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 107 • No: 87

Senate vote • 4/24/2025

Final Passage as Amended by the House

Yes: 27 • No: 21

House vote • 4/23/2025

Final Passage as Amended by the House

Yes: 53 • No: 45

Senate vote • 4/19/2025

3rd Reading & Final Passage

Yes: 27 • No: 21 • Other: 1

Actions Timeline

  1. Effective date 5/20/2025.

    5/20/2025Senate

  2. Chapter 421, 2025 Laws.

    5/20/2025Senate

  3. Governor signed.

    5/20/2025legislature

  4. Delivered to Governor.

    4/27/2025legislature

  5. Speaker signed.

    4/26/2025legislature

  6. President signed.

    4/25/2025legislature

  7. Passed final passage; yeas, 27; nays, 21; absent, 0; excused, 0.

    4/24/2025Senate

  8. Senate concurred in House amendments.

    4/24/2025House

  9. Third reading, passed; yeas, 53; nays, 45; absent, 0; excused, 0.

    4/23/2025Senate

  10. Rules suspended. Placed on Third Reading.

    4/23/2025Senate

  11. Committee amendment(s) adopted with no other amendments.

    4/23/2025Senate

  12. Rules Committee relieved of further consideration. Placed on second reading.

    4/23/2025Senate

  13. Referred to Rules 2 Review.

    4/22/2025Senate

  14. Minority; do not pass.

    4/22/2025Senate

  15. FIN - Majority; do pass with amendment(s).

    4/22/2025Senate

  16. FIN - Executive action taken by committee.

    4/22/2025Senate

  17. First reading, referred to Finance.

    4/21/2025Senate

  18. Third reading, passed; yeas, 27; nays, 21; absent, 0; excused, 1.

    4/19/2025Senate

  19. Rules suspended. Placed on Third Reading.

    4/19/2025Senate

  20. Floor amendment(s) adopted.

    4/19/2025Senate

  21. 1st substitute bill substituted.

    4/19/2025Senate

  22. Passed to Rules Committee for second reading.

    4/19/2025Senate

  23. Placed on second reading by Rules Committee.

    4/19/2025Senate

  24. Minority; without recommendation.

    4/18/2025Senate

  25. Minority; do not pass.

    4/18/2025Senate

Bill Text

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