Generation of Family - Family Business State Tax Coalition

Respective News Articles

Congress grapples with estate Tax

Farmers, small businesses push for estate tax reforms

Congress resurrects estate
tax relief

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

Summary of H.R. 3905

The Estate Tax Relief Act of 2009

With the current estate tax law set to return to the 2001 rate of 55% with a $1 million exemption, H.R. 3905 would provide family-owned businesses with permanent and substantial relief and moves us one step closer to the Family Business Estate Tax Coalition’s goal of full repeal of this onerous tax.

Key features of H.R. 3905 include:

An exemption of $5 million phased in by 2019 with exemption amounts adjusted for inflation in years after 2019.
A tax rate of 35% phased in by 2019.
The continuation of “stepped-up basis” meaning the value of transferred property is adjusted for inflation after death.

On October 22, 2009, H.R. 3905 was introduced by a bipartisan group of Members of Congress.

For further information about H.R. 3905 including a list of current cosponsors, go to http://thomas.loc.gov/.

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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