In 2014, the Washington, D.C. City Council passed a tax reduction bill that provided for certain taxes to be reduced if projected revenues reached specified thresholds. There were 26 possible tax reductions and the increase in the exemption for D.C. estate taxes from $1,00,000 to 2,000,000 was the 15th priority. Therefore, apparently, the projected revenue increase in D.C. for 2016 will not be sufficient to increase the exemption from D.C. estate taxes. As a result, the amount that will pass free for D.C. estate tax will remain at $1,000,000 for individuals dying in 2016 (and previously).
How can we help?