House votes to repeal death tax

House votes to repeal death tax

THE House voted 240-179 last Thursday for full repeal of the estate tax, commonly referred to the death tax in agricultural circles because of the double tax required from families when an owner of an operation dies.

At the end of 2012, Congress passed the American Taxpayer Relief Act (ATRA), narrowly avoiding a return to a $1 million estate tax exemption with a 55% tax rate. This legislation provided a permanent exemption of the estate tax of $5 m

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