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D.C. Council Approves 2018 Budget, Estate Tax Exemption Will Increase As Planned

In 2014, the District of Columbia passed a significant tax reform bill that included gradually increasing its estate tax exemption amount of $1M to match the Federal exemption level ($5.49 million) as revenue targets were met. In 2017, the exemption doubled from $1M to $2M. On June 13, 2017, the Council voted to approve the 2018 budget which includes increasing the District’s estate tax exemption amount to $5.49 million.

Other 2018 budget highlights can be seen here on the D.C. Council’s web site. The next scheduled Legislative Meeting of the Council will take place on June 27, 2018.

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