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House committee advances estate-tax measure

Photo: Clipart.com

House committee advances estate-tax measure

Metro

OLYMPIA, Wash. – A bill that would close a loophole in Washington’s estate tax is on its way to the full House.

The House Finance Committee approved the bill, which would reinstate the estate tax on married couples who use a planning measure to transfer assets to a surviving spouse without paying taxes.

Lawmakers say closing the loophole could save the state more than $150-million in tax refunds.

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