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As you splutter out that sip of coffee, prepare yourself for another truth – that tax floor starts at just $2.193 Million. If you live in Washington State, you live in one of a handful of states that still collect an estate tax. The estates of Washington residents—as well as the estates of nonresidents who own real estate and/or tangible personal property located there—are subject to a state estate tax under the following guidelines. Maryland is the only state to impose both. The chart below shows which states currently collect state individual income taxes, state Inheritance Topsearch.co updates its results daily to help you find what you are looking for. Based on what you just learned, if you believe you or your loved ones may be subject to inheritance tax, there are things you can do now to reduce that tax liability in the future. Florida Inheritance Tax If you buy private long-term care insurance before November 1, 2021, and your private insurance is qualified, you can get out of the public program.. Inheritance Pick-up tax is tied to federal state death tax credit. Inheritance Tax 2021 Inheritance Tax Rates & Exemptions. The state in which your brother lived allows a $10,000 exemption for siblings. Washington State’s sales take is approximately 6 percent, but municipalities add up to 3.9 percent on top of that initial 6 percent levy. Frequently asked questions about Estate, Fiduciary and Inheritance taxes are listed below. Estate Tax. Inheritance & Estate Tax If the inheritance tax rate is 10%, and you inherit $100, you pay $10 in inheritance tax. Inheritance Tax Search New Content - Find What You Want - Search Top Results. Extension of time to file a WA State Estate and Transfer Tax Return Paper application. Iowa has an inheritance tax, but in 2021, the state decided it would repeal this tax by 2025. Mentioned in. For estates of $40,000 or less, the average attorney fee is $1,500. Legislation was passed in 2019 to establish the current estate tax exemption of $5,490,000. Washington State Inheritance Tax Kentucky Inheritance and Estate Tax Laws can be found in the Kentucky Revised Statutes, under Chapters: 140. Tax For example, in Pennsylvania, the inheritance tax applies if the dead person lived there, even if the inheritor lives out of state. Washington Estate Tax Worries? 3 Tips Save Thousands Inheritance tax usually applies when a deceased person lived or owned property in a state with inheritance tax. Alternative Recommendations for Washington State Estate Tax Return 2021 Here, all the latest recommendations for Washington State Estate Tax Return 2021 are given out, the total results estimated is about 20. Your first $2.193 million passes tax free – called an “exemption”. ... An estate tax is a federal or state levy on inherited assets whose value exceeds a … IA ST § 451.2; 451.13. Mentioned in. Inheritance and Estate Taxes. Coalson Receives 2021 NYU SPS Paul H. Frankel Award. More with Alston & Bird LLP. Inheritance taxes differ from estate taxes as inheritance taxes apply to the beneficiary. The term "death tax" is something of an umbrella covering both estate and inheritance taxes. Sales Tax: State levy is 4.85%, but mandatory 1% local sales tax and 0.25% county option sales tax are added to the state tax (for a 6.1% … Federal Estate Tax, Gift Tax and Generation-Skipping Tax Exemptions Washington State Estate Tax Exemption. 2022 Estate Tax Exemption. Exemption amounts also vary from state to state. February 11, 2021. The CGT imposes a 7% long-term capital gains tax on the “voluntary sale or exchange of stocks, bonds, and other capital assets [that were held for more than one year] where the profit [exceeds] $250,000 annually.” Unlike estate tax, estate taxes are charged against estate despite that inherits the deceased's possessions. Juli 18, 2021 Washington State Inheritance Tax 2020. For example: If an estate is worth $15 million, $3.6 million is taxed at 40 percent. In 2021, federal estate tax generally applies to assets over $11.7 million, and the estate tax rate ranges from 18% to … Estate taxes are a little different in Washington, too. Roy Cooper’s (D) signature. For example: If an estate is worth $15 million, $3.6 million is taxed at 40 percent. Pick-up tax is tied to federal state death tax credit. If you need more time to file, use federal Form 4768 for a six-month extension. Note: The Washington taxable estate is the amount after all allowable deductions, including the applicable exclusion amount. Washington (/ ˈ w ɒ ʃ ɪ ŋ t ə n / ()), officially the State of Washington, is a state in the Pacific Northwest region of the Western United States.Named for George Washington—the first U.S. president—the state was formed from the western part of the Washington Territory, which was ceded by the British Empire in 1846, in accordance with the Oregon Treaty in the settlement of … No matter what it is called, it can be very costly in the state of Washington and at the federal level. As of 2021, Washington, Oregon, Minnesota, Illinois, Maryland, Vermont, Connecticut, New York, Rhode Island, Massachusetts, Maine, Hawaii and Washington, D.C. all levy state estate taxes. But 17 states and the District of Columbia may tax your estate, an inheritance or both, according to the Tax Foundation. It is only one of seven states that levies one. Inheritance and Property Acquisitions. A credit trust, also called a bypass trust, is a … Oregon has no inheritance tax. The state income tax rates range from 1% to 12.3%, and the sales tax rate is 7.25% to 10.75%. (The exemption was $11.7 million for 2021.) Don’t confuse the inheritance tax with the federal estate tax, which is tacked on estates worth more than $11.7 milllion. Washington's legislature passed a new capital gains tax in April (Engrossed Substitute S.B. The tax rate starts at a 10% for the first taxable $1 million and climbs to 20% at $9 million. Prior to July 1, 2007, Virginia had an estate tax that was equal to the federal credit for state death taxes. The IRS did, however, change the federal estate tax exemption from 2018 to 2019, from $11.18 million to $11.4 million. inheritance taxes (Maryland imposes both). The estate incurs funeral and attorney's fees of $50,000 during the administration of the estate, and the decedent had $50,000 in personal debt at death. If you buy long-term care insurance before November 1, 2021, you can get an exemption from the … 2021 2,193,000 2022 2,193,000 Seattle CPI no longer calculated As of January 1, 2018, the US Bureau of Labor and Statistics (USBLS) no longer ... for the Washington State Estate Tax has changed. 1. With local taxes, the total sales tax rate is between 7.000% and 10.500%. Keep in mind that Washington state has its own estate tax. Six states collect a state inheritance tax as of 2021, and one of them—Maryland—collects an estate tax as well. Estate taxes are levied against an estate based on its value, but only values above a certain threshold called an "exemptio… Let’s start with the basics – Washington State has an estate tax. Washington State Legislature. For estates between $70,000 and $100,000: $3,000. Capital Gains Taxes In some cases, you won’t receive cash as your inheritance but may instead receive it as an investment, such as stocks, bonds, or even real estate. The good news is that since 1980 in Colorado there is no inheritance tax, and there is no US "inheritance tax," but there are other taxes that can reduce inheritance. HB 1465 would increase the rate for Washington’s death tax to as high as 40%. The Washington State estate tax exemption (“WA Exemption”) has not changed in the last couple of years and remains at $2,193,000 per person in 2021. With a combined rate averaging out at 9.19 percent, this is the fourth-highest sales-tax rate in the United States. The state does not tax social security, pension, or retirement accounts. In 2022, there is an estate tax exemption of $12.06 million, meaning you don’t pay estate tax unless your estate is worth more than $12.06 million. WA state estate tax explained. These taxes are known as "death taxes." Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise. 8 ways to avoid inheritance tax. For 2018, residents don’t have to file a state estate tax return if the value of their estate is less than the tax exempt amount of $2,193,000, according to Washington inheritance laws. Does the state of Washington have an inheritance or estate tax? www.smartsearchresults.com. Due to this change, Washington no longer has an … 386B.1-090. With a combined rate averaging out at 9.19 percent, this is the fourth-highest sales-tax rate in the United States. However, certain remainder interests are still subject to the inheritance tax. A Washington resident dies in 2019 leaving a gross estate of $4,000.000. IA ST § 451.2; 451.13. Estate transfer tax is imposed when assets are transferred from the estate to heirs and beneficiaries. The 2020 Washington State estate tax exemption is currently $2,193,000 per person, the same rate as 2019. At $9,000,000 over the exclusion amount of $2,193,000 the base tax is $1,490,000 plus 20% of the amount over $9,000,000. Before discussing what can be done, here are a few things to know about the state estate tax for Washington residents: It’s a tax on your accumulated wealth assessed by WA state when you die. The cut-off for Washington State Estate Tax 2020 is currently set at $2.193 million. As of 2019, if a person who dies leaves behind an estate that exceeds $11.4 million. As previously mentioned, not all states require the payment of inheritance taxes. Real estate excise tax Washington Department of Revenue. Additionally, Washington boasts a lower than average property tax and has no inheritance tax for estates less than $2.193 million. Under current law, the Washington estate tax applies to estates over $2.193 million. Washington State Estate Tax Guide for 2021 – Moulton Law. Real Estate Details: Washington State Real Estate Excise Tax 2021.Houses (4 days ago) Washington State Real Estate Excise Tax 2021. Inheritance tax is imposed on the value of the decedent’s estate that exceeds the exemption amount applicable to the decedent’s year of death. The WA Exemption is supposed to be indexed for inflation; however, the index that was used prior to 2018 no longer exists. The WA Exemption is supposed to be indexed for inflation; however, the index that was used prior to 2018 no longer exists. This scale starts at 10% for the first $1,000,000 that exceeds the exclusion amount. Sales tax. These are Maryland, Nebraska, Kentucky, New Jersey, Pennsylvania, and Iowa. Inheritance taxes, which are calculated based on who inherits the estate as opposed to the overall value of the estate, are currently collected in the states of Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania.Notice that Maryland and New Jersey collect both state estate taxes and inheritance taxes. A DC Estate Tax Return (Form D-76 or Form D-76 EZ) must be filed where the … The Washington tax due is calculated as follows: Gross estate. This taxable threshold is scheduled to increase to $7.1 million for 2021, $9.1 million for 2022, and the federal Most of this law’s provisions took effect on July 1, 2020, but one provision—establishing a “floor” for the gas tax in 2021—took effect on January 1 of this year. For dates of death Jan. 1, 2014 and after. For estates with due dates on or after July 23, 2017, a return is not required to … https://www.jrcinsurancegroup.com/states-with-an-inheritance-tax-2021 Inheritance and Estate Taxes are two separate taxes that are often referred to as 'death taxes' since both are occasioned by the death of a property owner. “Estate and Transfer Tax,” Pages 33-34. "Does Your State Have an Estate or Inheritance Tax?" In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax. The state sales tax rate in Washington is 6.500%. The tax return and payment are due nine months after the estate owner's date of death. Washington Inheritance Tax. If the law is ever changed to reference the new index, then the WA Exemption amount should increase. The Oregon tax is different from the federal estate tax, which is imposed on estates worth more than $11.7 million (for deaths in 2021). Washington is tax-friendly for retirees. 2021 State Transportation Tax Changes North Carolina. Washington state does not have an inheritance tax. The Washington tax on assets passed on at death is an estate tax only. An inheritance tax is paid by the heir, while an estate tax is paid by the estate of the person who died before the assets are distributed to the heirs. This replaced Indiana’s prior law enacted in 2012 which phased out Indiana’s inheritance tax over nine years beginning in 2013 and ending on December 31, 2021 and increased the inheritance tax exemption amounts retroactive to January 1, 2012.. Iowa. 2. In many states, the estate tax ranges from 0.8% to 16%. Post navigation. If the estate meets the filing requirements, the estate pays this tax to the Internal Revenue Service (IRS) and/or the state in which the decedent lived (prorated to any other states where the decedent had property). “Estate Tax.” Accessed Nov. 14, 2021. Inheritance tax waiver list (revised 11/14/05) state inheritance tax waiver list the information in this appendix is based on information published as of june 27, 2005 in the securities transfer guide, a publication of cch incorporated, or … The estate tax in the United States is a federal tax on the transfer of the estate of a person who dies. Estates can apply for an automatic six-month extension, though, so estate tax returns for deaths in a particular year may be filed in that year or in one of 2. The federal government does not levy an inheritance tax. the Executor must file a federal estate tax return within 9 months and pay 40 percent of any assets over that threshold. Surviving spouses are always exempt. The average homeowner pays 1.28 percent of their property’s value in taxes. Explore 2021 state estate tax rates and 2021 state inheritance tax rates. The net estate is the fair market value of all assets, less any allowable deductions such as property passing to a surviving spouse, debts, and administrative expenses. Note: For returns filed on or after July 23, 2017, an estate tax return is not required to be filed unless the gross estate is equal to or greater than the applicable exclusion amount. In addition to no state income tax, retired homeowners may also qualify for the state’s property tax relief programs. The federal government does not impose an inheritance tax, so the recent tax changes from the Trump administration did not affect the inheritance taxes imposed by the states. (5 days ago) 9 hours ago Real - estate-find.com Show details. If you're a resident of Washington and leave behind more than $2,193,000 (for deaths occurring in 2021), your estate might have to pay Washington estate tax. South Dakota is another state with no state income tax, no estate or inheritance tax, and very low average state and local sales taxes, and is another great state for retirees. Gift tax and inheritance tax. Find what you want on topsearch.co. #2: Washington No tax has to be paid. Washington State Long-Term Care Tax Opt-Out. Washington has recent rate changes (Thu Jul 01 2021). Washington Estate Tax Tip 1: Create a Credit Trust. Homeowners with a house valued at $126,200 will typically pay $1,620 a year property taxes. Connecticut is the only state that imposes a stand-alone gift tax. 1 … The major difference in between inheritance and inheritance tax is the individual who pays tax. Only Maryland has both a state estate tax and a state inheritance tax. Retirement tax benefits. The estate of a deceased person in Florida could still owe federal inheritance taxes if the value of estate is over the lifetime limit ($11,700,000 in 2021). However, there is … The Estate Tax is a tax on your right to transfer property at your death. This replaced Indiana’s prior law enacted in 2012 which phased out Indiana’s inheritance tax over nine years beginning in 2013 and ending on December 31, 2021 and increased the inheritance tax exemption amounts retroactive to January 1, 2012.. Iowa. Only eight states currently have inheritance taxes at all: Tennessee, Pennsylvania, New Jersey, Nebraska, Maryland, Kentucky, Iowa, and Indiana. €1,000,000 exemption on a bequest to a spouse or child, and a maximum rate of 8%. In September, the state also increased it’s progressive estate tax rate to as high as 20% for estates valued at more than $10 million. 2022 Estate Tax Exemption. There is no inheritance tax or estate tax in Florida. 3. During a general election in November 1981, the voters repealed an inheritance tax and enacted an estate tax. But it's not just state residents who might owe Oregon estate tax.   And in May 2013, … Quick Summary. Here are 10 reasons to commit to a retirement in the Evergreen State. State Estate Tax Exemption. So even if your estate isn't large enough to owe federal estate tax, it might still owe Washington estate … Inheritance taxes in Iowa will decrease by 20% per year from 2021 through 2024. These taxes are often acquired from the estate itself and are paid by the. Governor Inslee signed Washington’s new capital gains tax (“the tax” or “the CGT”) into law on May 4, 2021. So, the taxable income amount of the inheritance would be $40,000. Tax-wise, South Dakota is one of the best states for retirees. Tax Foundation. Accessed Feb. 26, 2021. Feeding the Hand That Bites Them. While federal estate taxes and state-level estate or inheritance taxes may apply to estates that exceed the applicable thresholds (for example, in 2021 the federal estate tax exemption amount is $11.7 million for an individual), receipt of an inheritance does not result in taxable income for federal or state income tax Amidst the general election in Nov 1981, voters overturned our inheritance tax and passed the estate tax. The Washington State estate tax exemption (“WA Exemption”) has not changed in the last couple of years and remains at $2,193,000 per person in 2021. The law states that the Washington State exemption increases based on the consumer price index for the Seattle-Tacoma-Bremerton area. Twelve states and Washington, D.C. impose estate taxes and six impose inheritance taxes. Estate tax tables, Department of Revenue Washington State (last visited June 28, 2021 1:50 pm) https://dor.wa.gov/taxes-rates/other-taxes/estate-tax-tables#InterestRates. Beginning January 1, 1987 the statutory inheritance tax rate became zero and the portion remaining was the “pick -up tax”. For low-income South Dakotans over the age of 70, a homestead exemption allows for delaying payment of property taxes until the home is sold. No tax has to be paid. Inheritance & Estate Tax. In addition, no Consents to Transfer (Form IH-14) personal property or Notice of Intended Transfer of Checking Account (Form IH-19) are required for those dying after Dec. 31, 2012. The voters of the State of Washington repealed the inheritance tax in 1981, so you will not owe the Washington State Department of … For additional information, call (202) 478-9146. October 29, 2020 March 18, 2021 kiralegalbegal1. This doesn't extend your time to pay. The focus of estate taxes is on the value of a dead person’s assets and whether it exceeds the estate tax threshold. Real Estate Details: Beginning Jan. 1, 2020 through June 30, 2023, 1.3% of the state tax collected by counties is retained to cover administration costs. The tax applies to property that is transferred by will or, if the person has no will, according to state laws of intestacy.Other transfers that are subject to the tax can include those made through a trust and the payment of certain life insurance benefits or financial accounts. Instead, the states use a progressive tax, taking a larger cut of estates that are worth more. However, Pennsylvania unfortunately does levy an inheritance tax. 1. Warning: To protect against the possibility of others accessing your confidential information, do not complete these forms on a public workstation. Inheritance Laws in Washington. You can find Washington state's inheritance laws in Title 11 of the Revised Code of Washington, the Probate and Trust Law chapter. Anyone over 18 and mentally competent may draw up and sign a will to direct the distribution of estate assets. Probate or Not. Heirs may not need to go through probate to inherit. In 2021, federal estate tax generally applies to assets over $11.7 million. The Washington estate tax is separate from the federal estate tax, which is imposed on estates worth more than $11.7 million (for deaths in 2021). Minnesota has an Estate Tax. the Executor must file a federal estate tax return within 9 months and pay 40 percent of any assets over that threshold. See where your state shows up on the board. Maryland is the only state to impose both. As of November 2020, there are no plans to increase the amount of the exemption in 2021. Even then, you’re only taxed for the portion that exceeds the exemption. 5096), which was signed by Governor Inslee on May 4, 2021. Inheritance tax is a state tax on a percentage of the value of a deceased person's estate that's paid by the inheritor of the estate. Sales tax. There are no inheritance taxes, though. Washington has the highest estate tax at 20%, applied to the portion of an estate's value greater than $11,193,000. Estate taxes. According to Washington State inheritance laws, if the estate is valued at more than $2.193, then the executor of the estate must file a state estate tax return within nine months of the decedent’s passing. Quick Summary. Washington State Department of Revenue. HG.org. Washington state does not have an inheritance tax; however, Washington state in 1982, one year after Washington repealed the inheritance tax, enacted an estate tax. There is no federal inheritance tax. Inheritance Tax. The change from an inheritance tax to an estate tax became effective January 1, 1982. State Inheritance Taxes . So, do we have a Washington State Estate Tax or Inheritance Taxes? No tax has to be paid. Washington, D.C. Washington State States with both . Only six states … Washington estates in excess of the WA Exemption amount are subject to a 10% – 20% Washington State Estate Tax. The tax rate varies depending on … Some additional good news for you, Pennsylvania does not have a gift tax. State Delays Long-Term Care Tax. The estate tax is a tax on a person's assets after death. The estate of a deceased person in Florida could still owe federal inheritance taxes if the value of estate is over the lifetime limit ($11,700,000 in 2021). The chart below shows the 2018 estate taxes for 12 states as well as the expected exemption. $ 4,000,000. $250,000Washington State 7% Capital Gains Tax.April 29, 2021.A new excise tax on capital gains in excess of $250,000 beginning … The governor said his plan would reduce what businesses have to pay in unemployment taxes by $790 million in 2021, plus an additional $1.1 billion from 2022 to 2025. If a federal estate tax return was filed, this must be included when filing the state estate tax return. Washington (WA) Sales Tax Rates by City. An inheritance tax requires beneficiaries to pay taxes on assets and properties inherited from a deceased person. Washington State’s 20 percent rate is the highest estate tax rate in the nation, although Hawaii is set to increase its top rate to 20 percent effective January 1, 2020. 2. In addition, no Consents to Transfer (Form IH-14) personal property or Notice of Intended Transfer of Checking Account (Form IH-19) are required for those dying after Dec. 31, 2012. Only 18 states impose the tax; most states impose no … State Tax Rates The top state rates break down like this in 2021 and 2022, excluding those who are exempt from tax such as spouses or in some states, children or other close relatives. Note: The Office of Tax and Revenue (OTR) has made changes to the estate tax filing process for representatives of decedents whose death occurred from January 1, 2016 and forward. The pick -up ta x refers to the credit against the federal estate tax that existed. Washington residents have one chance to get out of the public long-term care program. An estate tax return is due within nine months of the owner’s death. As the decedent's niece or nephew, however, you'd pay an inheritance tax, and if you were not related at all, you'd pay the highest inheritance tax rate. Twelve states and Washington, D.C. impose estate taxes and six impose inheritance taxes. For an inherited home, you won’t meet the requirements for the $250,000 capital gains exclusion unless you live in the property for two years after inheriting. So even if your estate isn't large enough to owe federal estate tax, it might still owe Oregon estate tax. "Inheritance Law." Explore 2021 state estate tax rates and 2021 state inheritance tax rates. En español | Most people don't have to worry about the federal estate tax, which excludes up to $11.7 million for individuals and $23.4 million for married couples in 2021 (up from $11.58 million and $23.16 million, respectively, for the 2020 tax year). Select the Washington city from the list of popular cities below to see its current sales tax rate. It would give Washington the highest death tax rate in the country, and one of the highest in the world. topsearch.co. When must it be filed? Table W - Computation of Washington estate tax. The good news is that Washington has no gift tax, but the IRS does impose a federal gift tax. The law states that the Washington State exemption increases based on the consumer price index for the Seattle-Tacoma-Bremerton area. It triggers at just over $2.1M this year and increases very slightly each year. The 2020 Washington State estate tax exemption is currently $2,193,000 per person, the same rate as 2019. Twelve states and the District of Columbia impose estate taxes and six impose inheritance taxes. In Washington State, there is no inheritance tax. An inheritance tax is a state tax you have to pay on property or money you receive from someone who has passed away. Deloitte. By Paul Jones. Inheritance tax is a tax paid by a beneficiary after receiving inheritance. In July 2020, House Bill 77 became law without Gov. The New Normal of Remote Work and the Impact on State Filing Obligations. Accessed Nov. 14, 2021. While there is no inheritance tax in Washington, but another state’s inheritance tax could apply to you. Inheritance tax is imposed as a percentage of the value of a decedent's estate transferred to beneficiaries by will, heirs by intestacy and transferees by operation of law. death tax) applies to the estate of a single person, or the case of a married couple, the 2 nd spouse to die. Only six states impose an inheritance tax. Internal Revenue Service. Only six states levy this tax in 2021. The state tax rate varies by state, for example, Nebraska charges 1% – 18% inheritance tax depending on the amount inherited and Pennsylvania charges 4.5% – 15%. Vermont Agency of Administration Department of Taxes. If the tax rate for a $40,000 inheritance is 10%, then you as the taxpayer would owe $4,000 in taxes on that inheritance. federal estate tax exemption 2021 The states with the highest estate tax rates are Hawaii and Washington, where the tax ranges from 10% to 20%. However, if your estate is $6 million, your WA state estate tax could be around $550,000. They are listed to help users have the best reference. In all cases once an inheritance tax return is filed reviewed and payment of all taxes due if any is remitted. Estate tax rate ranges from 18% to 40%. Most existing estate tax rates range from around 18% to 40%. 1. Generally, when you die, your estate is not subject to the federal estate tax if the value of your estate is less than the exemption amount. Accessed Nov. 21, 2021. Maryland is the only state to impose both. Pennsylvania Inheritance Tax and Gift Tax. 1. Today, Virginia no longer has an estate tax* or inheritance tax. ... California State Taxes 2020-2021. Washington state has the highest death tax rate in the country, and HB 1456 sponsored by Rep. Tina Orwall (D-33) would increase that rate for higher taxable estates and use a portion of the revenue to fund a housing equity account. “RCW 83.100.048. For estates between $40,000 and $70,000 the estate attorney fee raises to $2,250. Application for Extension of Time to File a Washington State Estate and Transfer Tax Return (Fill-In or Print) . Of the net proceeds to the state: 1.7% goes to the public works assistance account. All FAQ Topics DC Estate Taxes What is an estate tax? Iowa, kentucky at least the state tax exemption amount is relatively high at $5 million for 2020. In 2021, the estate tax rate begins at 18 percent on the first Income Tax Range: For 2021, North Carolina has a flat rate of 5.25% of state taxable income. Because the decedent owned out-of-state property, a house in Arizona and unimproved real property in South Dakota that are not subject to Washington estate tax, the tax due to Washington is calculated by multiplying the amount of preapportionment tax computed above by the fraction described in this subsection (2). 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