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Cattle producers want certainty in the tax code - Brownfield Ag News

Cattle producers want certainty in the tax code - Brownfield Ag News
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San Diego , United States , Mike Kelly , Kent Bacus , National Cattlemen Beef Association , National Cattlemen , Beef Association , Congressmen Jimmy Panetta , Special Use Valuation , Business Meeting ,

NCBA Welcomes Preserving Family Farms Act


(NAFB) – House lawmakers recently introduced the Preserving Family Farms Act of 2021, a priority for the National Cattlemen’s Beef Association.
NCBA has long supported efforts to reduce tax burdens on farmers and ranchers. This bipartisan legislation to expand IRS Code Section 2032A would allow cattle producers to take advantage of the Special Use Valuation and protect family-owned businesses from the impact of the federal estate tax, commonly referred to as the Death Tax.
The Preserving Family Farms Act increases the maximum amount allowed under the exemption from $750,000 to $11 million, indexed for inflation, thus reviving an important tool in the toolbox for farm and ranch families across the U.S., according to NCBA. ....

National Cattlemen Beef Association , Preserving Family Farms Act , National Cattlemen , Special Use Valuation , தேசிய கால்நடைகள் மாட்டிறைச்சி சங்கம் , ப்ரெஸர்விஂக் குடும்பம் பண்ணைகள் நாடகம் , தேசிய கால்நடைகள் , சிறப்பு பயன்பாடு மதிப்பீடு ,