Jack King Quotes on Tax (3 Quotes)

On the federal front, we achieved an historical win with the House passage of the bill updating the Endangered Species Act, and we will continue to work with the Senate as they take this issue up this year. In addition, we will continue to bring attention to the permanent repeal of the Death Tax.

Since the federal individual income tax imposes the largest tax burden on the broadest group of farmers and the federal estate tax can affect the ability to transfer the farm operation to the next generation, these changes are of considerable importance to the farm community.

This has reduced the number of estates required to pay tax and the amount of taxes owed. But, despite these changes, appreciating land values and increasing farm size mean a larger share of farm estates are subject to the federal estate tax.