Senate May Make It Easier To Pass Down Family Farms
Sonora, CA — Because federal estate taxes make it difficult to pass family farms from one generation to the next, California farm groups want the US Senate to match the House, by approving permanent repeal of the tax.
Senators are expected to begin debate on permanent repeal this week. Under current law, the tax will be phased out in 2010, but then return the next year.
Reports indicate in the past, family farms have been sold in order to pay the estate tax obligation.
Written by Sabrina Sabbagh