The Oregon Natural Resources Report - Agricultural News from Oregon

Farm action on 2013 estate tax hike

November 14, 2012

Estate Tax Increases if Congress Does Not Act by January 1, 2013
By Oregon Farm Bureau

Please contact your congressman/congresswoman and senator to ensure Congress helps you before December 31. Congress must act before the end of the year on the estate tax. On January 1, 2013, the exemption will shrink to $1 million and the top rate will jump to 55%.

Congress will be tackling estate taxes during a lame duck session beginning this month. We need you to contact Congress to protect farms and ranches from these devastating taxes.

OFB remains steadfast in its support for permanent repeal, although the more likely outcome for estate tax reform is an exemption of $5 million and top tax rate of 35%. This would be a huge victory for family farms and ranchers across the country!

As you well know the face of agriculture is changed by the estate tax. You can protect family farms from being altered or lost forever when land, buildings and equipment are sold to pay the tax. Please be a part of the 10,000 Farm Bureau members expected to contact Congress and take action this year to stop a huge increase in the estate tax.

 

  
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