Thursday, Jul. 16, 2009

Farm Bureau seeks estate tax reform

Farmers and ranchers are working with members of Congress to develop estate tax reform that will allow families to continue farming when the farm passes from one generation to the next. Without Congressional action the tax resumes in 2011 at the much higher 1999 rate. In some cases families can be forced to sell parts of their farms to pay estate taxes. Farm Bureau and other groups ask that farmland not be included in estate value if it remains in the farming business.