Estate Tax continues to put future of family farms at risk

Nearly 70,000 families own and operate 96 percent of the farms in Illinois, and all of these families are faced with questions when it comes to succession or transition plans for the business. The looming effects of the estate tax can force families to address future plans through gifting, discounting, leasing or some other method.

“Farmers should not be faced with making legacy-altering decisions or losing a many generation family farm. Progress was made on this issue during the spring session, but in the end, nothing was brought forward for a vote,” stated Rep. Daniel Swanson (R-Alpha).

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