Missouri Farm Bureau: death should not be a taxable event

The President has suggested paying for infrastructure through a series of tax hikes, which many ag groups oppose.

The President of the Missouri Farm Bureau sent a letter to the White House, saying that death should not be a taxable event and calling stepped-up basis critical for farmers.

Garrett Hawkins backs a plan to repeal the death tax permanently. A separate measure has been introduced to Congress that would reduce the death tax by half.

The potential for changes in those taxes has left many farmers anxious and uncertain of their future. MOFB shares the story of one young producer.

According to Brownfield Ag News, about 30 percent of family-owned businesses survive the transition from first to second generation ownership.

After that, it drops to 12 percent from second to third generation.


Change to the tax code could be the death of multi-generational farms

Ag CPA on potential changes to estate tax

Taxing capital gains at death would be extremely harmful to family operations, according to one expert