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FBETC Supports the Death Tax Repeal Act of 2013

FBETC's Ad in Roll Call

The FBETC Resource Guide

Read the FBETC Letter in Support of Sen. Thune's Bill to Repeal the Estate Tax (6/19/13)

Read the FBETC Letter in Support of Rep. Brady & Rep. McIntyre's Bill to Repeal the Estate Tax (6/19/13)

Read the FBETC Letter in Support of Sen. Thune's Amendment to Repeal the Estate Tax (3/21/13)

Read the FBETC Letter to Congressional Leadership Urging them to Take Action on the Estate Tax this year(11/15/2012)




Contact the Family Business Estate Tax Coalition in Washington, D.C., for current news regarding the estate tax.

 

 Estate Tax Legislation

The American Taxpayer Relief Act of 2012

The bipartisan tax compromise package that passed at the end of 2012 included some estate tax relief provisions for our nation's family businesses.

The American Taxpayer Relief Act of 2012

Capitol Building - The Estate Tax Relief Act of 2009This legislation provides family-owned businesses with some relief from the estate tax and moves us one step closer to the Family Business Estate Tax Coalition’s goal of fully repealing this onerous tax.


Key provisions of current law include:

  • A maximum estate tax rate is 40 percent, effective January 1, 2013. While this is an increase 2012's 35 percent, it is sharply lower than the 55 percent rate that could have taken effect absent the legislation.  
  • The law permanently maintains the $5 million exemption amount, indexed to inflation. As of the end of 2012, the inflation adjusted amount is $5.12 million.
  • Unification:  The estate and gift taxes are permanently unified. This establishes a single graduated rate schedule for both the estate and gift taxes, simplifying estate planning.  
  • Spousal portability:  The law permanently allows couples to transfer any unused exemption to the surviving spouse under simplified rules.    
  • No harmful offsets—preserves valuation discounts, grantor-retained annuity trusts (GRATs) and state estate tax deductibility. 

The Impact on Family Business

The Katz Family

The Katz family has operated Denver Hardware in Denver, Colorado, for almost 70 years, employing 25 local workers . . . . .Read More

The Kerckhoff Family

The Kerckhoff family, owners of Rudroff Heating and A/C Inc. in Belton, Missouri, demonstrate what our members go through to prepare . . . Read More

 

The Barnard Family

James Barnard, the owner of Barnard Manufacturing Co., in St. Johns, Michigan, employs over 100 workers and was almost . . ..Read More

The Sonderen Family

Mark Sonderen, President of Sonderen Packaging in Spokane, Washington, inherited his business, which now employs 148 worker . . . Read More

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