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Wills, Trusts, & Estate Planning Agriculture Tax

Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:

Succession Planning—Bet the Farm on It

by Ward and Smith, P.A. on

Despite recent trends toward consolidation in the agricultural industry, farming generally remains a family affair. According to the United States Department of Agriculture, 97 percent of all farms in the United States are...more

New Treasury Proposed Regulations: Bad for family farms

by Nexsen Pruet, PLLC on

In transferring the ownership of family farms to the next generation, it is common to take advantage of certain valuation discounts in making transfers. The Department of Treasury recently released proposed regulations under...more

Tax And Business Planning For Farmers To Avoid Higher Taxes And Loss Of Subsidies

by Gray Reed & McGraw on

The Agricultural Act of 2014 (aka - the 2014 Farm Bill) has been controversial, to say the least. Among its many changes are an $8 billion cut to the “food stamp” program. The Farm Bill also drastically modifies or ends...more

Minnesota Gift and Estate Tax Law Changes

On May 23, 2013, Governor Dayton signed the Omnibus Tax Bill (“Tax Bill”) into law. The Tax Bill made significant changes to the Minnesota estate and gift tax laws. The following is a brief summary of a few of the most...more

Ag Groups Urge Action On Estate Taxes

by Varnum LLP on

More than 30 agriculture groups recently sent a letter to the U.S. House of Representatives and the U.S. Senate urging them to provide farmers and ranchers with permanent relief from the estate tax....more

New law gives Pennsylvania Inheritance Tax exemptions for family farms

by Saul Ewing LLP on

A recent law enacted by the Pennsylvania Legislature will enable farmers to pass their family farms to future generations without having to pay Pennsylvania Inheritance Tax. With proper estate and tax planning, this law will...more

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