Month: May 2017

D.C. City Council Defeats Estate Tax Increase

Earlier today, the D.C. City Council voted decisively 9-4 against an amendment that would have forced more district businesses into paying the city's death tax. The amendment sought to freeze the current district estate tax exemption at $2 million rather than raising the exemption to match the $5.49 million federal exemption as scheduled. The Family Business Coalition sent a letter to the D.C. City Council last week outlining its opposition to the proposed tax increase. DC is currently one of only 18 states that levy a transfer tax. Blue and red states alike are moving towards eliminating…continue reading →

Tax reform positive for agriculture

By Michelle Rook Today at 7:45 a.m. WASHINGTON, D.C. — United States taxpayers could see sweeping reform of the nation's tax policy if President Donald Trump and Congress can come together on a plan. The Trump administration recently released initial details of what they describe as one of the largest tax plan overhauls in history. However, the House Ways and Means Committee and the Senate are also working on legislation of their own. So far, the proposed plans all simplify the tax code and lower income tax rates for individuals and corporations. In fact,…continue reading →