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- Title
Estate Tax Repeal: Boon for Private, Smaller Companies.
- Authors
Dávila, Serena
- Abstract
The article discusses issues pertaining to the U.S. estate tax in 2005. Family-run and privately held companies are most impacted by the tax because of the costs generated and due to their interest and need for succession planning. Unless the U.S. Congress passes new legislation the tax will be fully phased out in 2010 and reinstated in 2011. The Death Tax Repeal Permanency Act of 2005 was introduced by Senators John Kyl and Bill Nelson. The legislation and similar bills are not moving quickly through the U.S. Senate. Analysts say the repeal issue does not have the same level of support in the Senate that it has in the House of Representatives.
- Subjects
UNITED States; INHERITANCE &; transfer tax; EXECUTIVE succession; REPEAL of legislation; KYL, Jon, 1942-; NELSON, Bill, 1942-; UNITED States. Congress; TAXATION of family-owned business enterprises; TAXATION of decedents' estates; SUCCESSION planning; INCOME in respect of decedent
- Publication
Financial Executive, 2005, Vol 21, Issue 6, p66
- ISSN
0895-4186
- Publication type
Article