Month: June 2017

Delaware Legislature Passes Death Tax Repeal Legislation, Awaiting Gov. Signature

Yesterday, family business owners in The Diamond State were happy to hear that the state Senate passed a bill, repealing Delaware’s estate tax. Despite the fact that estate tax repeal is a traditionally Republican priority, several Democrats crossed the political aisle to repeal the tax. For many business owners in Delaware, the relief couldn’t have come soon enough. Currently, Delaware’s estate tax exemption is set to match the federal exemption level of $5.49 million, however, for many inventory-heavy Delaware businesses, the additional state estate tax can have crippling economic effects. Often, business owners…continue reading →

FBC Celebrates Death Tax Wins In D.C. and Minnesota

The Family Business Coalition enjoyed two victories last week in the tireless fight to protect the engine of the American economy. The wins came in Washington D.C. and St. Paul, Minnesota.  On Tuesday, the D.C. City Council voted decisively in a 9-4 vote 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 level. The Family Business Coalition sent a letter to the D.C.…continue reading →