By Paige Wallace, NCBA Communications
As cattlemen look towards the future, one of the most glooming issues facing the beef industry is the Death Tax. The tax is temporarily set at a rate of 35 percent with an exemption of $5 million. However, on January 1, 2013 the Death Tax will return to a rate of 55 percent on all assets above a $1 million exemption amount.
This week I spoke with Kent Bacus, NCBA's Associate Director of Legislative Affairs, about what can be done to prevent this tax increase.
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