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Statement of Terry Neese: Distinguished fellow, National Center Of Policy Analysis Family Policy Center.
Support for the estate tax is based on three major claims. One, inheritance is are a major source of wealth and equity. Two, the tax provide significant revenue for the federal government. Three, the individuals required to pay the tax can easily afford it. These are,...
Policy Analysis: Grave Robbers, The Moral Case Against The Death Tax
The Federal gift and estate tax has come to be known as the death tax. There are several proposals to reform or repeal the tax pending before the current Congress, and at least some death tax changes are expected soon. Supporters of the tax continue to maintain,...
Let The Death Tax Rest In Peace
Despite President Obama's best efforts, the death tax remains a lightning rod in tax policy. Even the New York Times has reported that the death tax threatens Obama's ambitions. The death tax destroys roughly $847 billion in capital, the funds used to create economic...
Family Businesses In The US Economy
Our job today, Define family business, provide the best available statistics on family businesses, judge the quality of each satistics, and suggest prospects for future research. Read the full Family Businesses In The US Economy article.
Our Story – California Family Farm At High Risk
Our beloved 101 "acre California farm-my small family's one asset- has been in my family since 1942, when it was purchased by my great uncle. It has been planted In crops of many kinds, worked first by my uncle and then by my father, who earned a very modest salary as...
An Analysis Of The Descent Distance Into The Defects Of The Estate Tax On Entrepreneurship
This paper is the second in a series of Tax Foundation studies examining Federal transfer taxation. The first of these studies provided a history and overview of federal transfer taxation. This paper attempts to gauge one of the economic effects of federal transfer...
A Declaration Of Independence From Death Taxation: A Bipartisan View
We begin with a simple statement of the facts about death taxation. America has had a death tax of some sort since 1916, the first year that the modern personal income tax was put in place. Before then, there were scattered periods were federal taxes were imposed on...
Death Tax Chronicle
Tea Party Threatened By Death Tax. Estate Valuation Prove Problematic For Oregon Timberland Owners. The Death Tax Chronicle is brought to you by the Family Business State Tax Coalition. Multi-Generation Ranch Fears Death Tax. Read the full Death Tax Chronicle...
Survey Of The Impact Of The Federal Estate Tax on NAWBO Member Businesses
Summarized below are the results of a survey of 272 family owned and operated businesses which are members of the National Association Of Women Business Owners. The study was sponsored by The Center Of The Study Of Taxation. It evaluates the experiences of these...
Spending A Lifetime Building To Pay Estate Tax
Mr. Syman is worth multi-millions - interests include real estate holdings, shopping center/strip mall developments, restaurants, etc. He is 66 years old and has just recently started consulting with attorney's about death tax issues. He has spent $15,000 already on...
United States Thrives Because Of The Entrepreneurial Spirit
Our great United States thrives because of the concept of capitalism and the promotion of an entrepreneurial spirit With those thoughts in mind, 1 strongly urge you to support permanent elimination of estate and generation-skipping taxes, now commonly referred to as...
Death Tax End Needed For Business
The American free market typically rewards success and encourages growth, unless you happen to be a family-business owner. My family has distributed food-service products and paper and plastic disposable products in Maine for more than 1 00 years. If President Obama'...
Estate Tax Must Be Repealed
My mother is 86 years old. My father died in '94. They grew up during the depression. My mother's father was a share cropper in Nebraska. He earned a dollar a week. Mom never learned to read or write, but she was brilliant at figuring out how things worked...
The Estate Tax Kills Jobs
The Estate Tax kills jobs. It kills the companies that provide jobs. In the process, it kills towns and communities, particularly those in rural areas dependent upon the land and local industry. Almost all small business is privately owned and most locally owned. When...
The Additional Costs Of Estate Tax
Mr. Goebel, the owner of the bus line and a hockey rink, currently has a "buy/sell" arrangement with his brothers regarding the business. They pay about $75,000 a year in insurance just to protect themselves should there be a death. Tom's teenage children are not...
Had To Sell Business Due To Estate Tax
My father owned a small business which provided health products to his long time customers. Upon his death, we had to sell the business because of the estate tax on the sole proprietorship business left us too little to continue it. Now my brother and I who used to...
Possibility Of Loss From Estate Tax
I am only 36 yr old and have been in the financial planning field for 8yrs. My clients average age is 67 and range 50-80. Seeing the average portfolio of these clients go from $500k to over $1 million plus in the 8yrs, due to stock values, particularly Exxon, Shell,...
Selling Nearly Half Of The Estate To “Pay For” The Other Half
My Mother in law recently passed away. She lived in Minden, Ne. all her life. She and her late husband worked their entire lives in Kearney County. They owned farms, feed lots, gas stations, implement dealerships, and rental properties. They have payed income taxes on...
Unfair Tax On The Dead And The Living
I have not had to sell assets yet but as it stands upon the death of my father, because of the value of the farm land now, my sisters and I will have to either sell some of the land or clear cut timber to pay for the estate taxes. It is just a small farm and only...
Land Owner Impacted In Major Way Upon The Death Of The Patriach
My family has almond land, rice land and cattle land in California. Our forefathers settled on the cattle land in the mid 1800's. The problem I see is that land in California has increased in value so tremendously that he average land owner is going to be impacted in...
Congress Should Reduce Or Repeal Death Tax
Dear Ms. Soldano: I want Congress to do something about reducing the death tax if they won't repeal it. It looks like the Democrats are dead-set against a repeal, but might support a compromise (even though they killed the latest attempt to come up with a bill package...
Post-Election Survey Results, Groundbreaking Data On The Efforts Of The Death Tax
New Data On The Effects Of The Death Tax Almost twice as many family members sell their business or property early because of the death tax, and those who leave the business or property to their children to determine how to pay the 55% tax. This means that death taxes...
American Voter Attitudes On Estate, Gift, And Generation-Skipping Taxes
Clarity is scarce, and at a premium, in Washington today. Complicated, complex, and contentious issues abound. Healthcare, immigration, foreign relations. The list goes on. Pick one. The common denominator is always that there seem to be more questions than answers....
State Death Tax Chart Update July 17, 2017
Family Businesses Survey Reveals Strengths, Challenges Ahead
New Survey of Family Businesses Reveals Strengths and Challenges Ahead Family business are key drivers of economic development, but taxes and regulations hinder growth A new survey finds that family businesses across America, while optimistic about growth in 2017,...
As Congress debates repeal of the estate tax, why not consider ending the gift tax?
With tax reform now in the spotlight of political debate, repeal of the “estate” or “death tax” has moved to the front burner of tax reform proposals currently under consideration; unfortunately, many of these proposals do not include repeal of the gift tax. The...
PROPOSED: Trump’s 2017 Tax Reform
President Trump has proposed a comprehensive tax reform plan that includes a complete repeal of the estate tax. The details of his proposal are below: 2017 Tax Reform for Economic Growth and American Jobs The Biggest Individual And Business Tax Cut In...
Bipartisan Estate Tax Repeal Bill Introduced
On Tuesday (1/24/17), Rep. Kristi Noem (R-SD) and lead co-sponsor Rep. Sanford Bishop (D-GA) introduced legislation (H.R. 631) in the House of Representatives that would fully repeal the estate tax in the 115th Congress. In introducing her bill,...
Treasury Unlikely to Finalize Sec. 2704 Regs Before Inauguration
On Monday (1/9/17), while speaking to the Heckerling Institute on Estate Planning in Orlando, Florida, Kathy Veihmeyer Hughes of the Treasury Department's Office of Tax Policy, provided a status update of proposed regulations reducing valuation...
2017 State Death Tax Chart
Revised July 17, 2017 PATG State Death Tax Chart -- July 17, 2017 This chart is maintained for the Policy and Taxation Group Website and is updated regularly. Any comments on the chart or new developments that should be reflected on the chart may be sent to...