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Northern Illinois | yeah I think the rate will go up and the cap down slightly but I don't think it will go to 1 mil. I have always thought a better way would be to eliminate the step up basis and also eliminate the tax that way a "business" will stay in the family but if people want to sell they can but will pay capital gains from day 1. I also agree that if the Estate Tax exception is to low it will NOT allow young people to buy land as mentioned above but rather turn farm landownership into a corporate account. | |
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Estate Tax
