The National Cattlemen’s Beef Association (NCBA) strongly supports the Death Tax Repeal Act, led by Reps. Randy Feenstra (IA) and Sanford Bishop (GA). The Senate companion bill is led by Sen. John Thune (SD). Repealing the federal estate tax, also known as the Death Tax, is a top priority for NCBA.
“It is unconscionable for cattle producers to face a tax that forces them to sell all or part of their family’s farm or ranch due to the death of a family member. With the cost of farmland rapidly rising, the Death Tax presents a significant threat to the future of family farms and ranches,” said NCBA President and South Dakota cattle producer Todd Wilkinson. “Most cattle producers have significant assets but are cash-poor and operate on thin margins, leaving them with few options when they are saddled with an unexpected tax liability.
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Categories: South Dakota, Livestock, Beef Cattle