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Kettle Moraine, WI | "deferred" and "owned and operated" and doesn't say that the tax won't accrue interest. Doesn't say that it won't be taxed. The tax will sit as a lien on the property lowering borrowing potential I suspect. Your government minders will watch that the family is the owner and operator. Just because your name is on the deed, the federal government is now your 0-43% partner.
When this tax is in place the operative word will be "liquidation value"
The valuation will look something like this:
Land price - Mortgage - Biden deferred capital gains tax - Biden deferred tax debt accrued interest - Capital Gains on sale = Land equity at sale
The deferral with interest will be like a reverse mortgage on your farm. | |
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Bidens Tax Plan For Family Farms.
