Thursday, December 16, 2010

Some “Small Businesses” Still Face Estate Tax

As Jim Gust notes below, we may know more about the future of the federal estate tax tonight. But even if Congress enacts a 35% tax with a $5 million exemption, some family businesses will continue to face steep death taxes. The Wall Street Journal cites the example of a family-owned lumber company in Arkansas. In addition to owning timberland of unspecified value, the company operates five mills, valued at $150-$250 million.

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