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Family Business Preservation Estate Tax Act
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Family Business Preservation Estate Tax Act This bill amends the Internal Revenue Code, with respect to the estate tax, to allow the value of the taxable estate to be reduced by the adjusted value of family-owned business interests that: (1) are included in determining the value of the gross estate, and (2) are acquired by or passed to an heir from the decedent. The deduction may not exceed the greater of: (1) the basic exclusion amount in effect for the calendar year that includes the death of the decedent ($5.49 million for 2017), or (2) the value of farmland which constitutes the family-owned business interest. The bill imposes a specified additional estate tax if, within 10 years of the decedent's death and before the heir's death: (1) material participation requirements are not met with respect to the family-owned business interest, (2) the heir disposes of any portion of the family-owned business interest (other than by a disposition to a member of the heir's family or through a qualified conservation contribution), (3) the heir loses U.S. citizenship or ceases to be a lawful permanent resident and the interest was not acquired or is not held in a qualified trust, or (4) the principal place of business of a trade or business of the family-owned business ceases to be located in the United States.
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Filing registrants (1)
2018 · fourth_quarter · Taxation/Internal Revenue Code
S 205, Death Tax Repeal Act of 2017 S 393, LEAP Act S 638/HR 1296, Promoting More American Manufacturing Jobs Act S 707/HR 116, Main Street Fairness Act S 1293/HR 3068, Invent and Manufacture in America Act HR 111, Support Our Start-Ups Act HR 451, Permanently Repeal the Estate Tax Act HR 1425, Bring Small Businesses Back Tax Reform Act HR 2091, Motorsports Fairness and Permanency Act HR 3159, Family Business Preservation Estate Tax Act HR 1, Tax Cuts and Jobs Act S 2256, Tax Extender Act of 2017
Client expense: $245,000 · Firm income: Not reported
Referred to the House Committee on Ways and Means.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Government targets: Bureau of Land Management (BLM), Commerce, Dept of (DOC), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Natl Highway Traffic Safety Administration (NHTSA), Office of Management & Budget (OMB), SENATE, U.S. Forest Service, U.S. Trade Representative (USTR)
2018 · third_quarter · Taxation/Internal Revenue Code
S 205, Death Tax Repeal Act of 2017 S 393, LEAP Act S 638/HR 1296, Promoting More American Manufacturing Jobs Act S 707/HR 116, Main Street Fairness Act S 1293/HR 3068, Invent and Manufacture in America Act HR 111, Support Our Start-Ups Act HR 451, Permanently Repeal the Estate Tax Act HR 1425, Bring Small Businesses Back Tax Reform Act HR 2091, Motorsports Fairness and Permanency Act HR 3159, Family Business Preservation Estate Tax Act HR 1, Tax Cuts and Jobs Act S 2256, Tax Extender Act of 2017
Client expense: $240,000 · Firm income: Not reported
Government targets: Bureau of Land Management (BLM), Commerce, Dept of (DOC), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Natl Highway Traffic Safety Administration (NHTSA), Office of Management & Budget (OMB), SENATE, U.S. Forest Service, U.S. Trade Representative (USTR)
2018 · second_quarter · Taxation/Internal Revenue Code
S 205, Death Tax Repeal Act of 2017 S 393, LEAP Act S 638/HR 1296, Promoting More American Manufacturing Jobs Act S 707/HR 116, Main Street Fairness Act S 1293/HR 3068, Invent and Manufacture in America Act HR 111, Support Our Start-Ups Act HR 451, Permanently Repeal the Estate Tax Act HR 1425, Bring Small Businesses Back Tax Reform Act HR 2091, Motorsports Fairness and Permanency Act HR 3159, Family Business Preservation Estate Tax Act HR 1, Tax Cuts and Jobs Act S 2256, Tax Extender Act of 2017
Client expense: $210,000 · Firm income: Not reported
Government targets: Bureau of Land Management (BLM), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Natl Highway Traffic Safety Administration (NHTSA), Office of Management & Budget (OMB), SENATE, U.S. Forest Service
2018 · first_quarter · Taxation/Internal Revenue Code
S 205, Death Tax Repeal Act of 2017 S 393, LEAP Act S 638/HR 1296, Promoting More American Manufacturing Jobs Act S 707/HR 116, Main Street Fairness Act S 1293/HR 3068, Invent and Manufacture in America Act HR 111, Support Our Start-Ups Act HR 451, Permanently Repeal the Estate Tax Act HR 1425, Bring Small Businesses Back Tax Reform Act HR 2091, Motorsports Fairness and Permanency Act HR 3159, Family Business Preservation Estate Tax Act HR 1, Tax Cuts and Jobs Act S 2256, Tax Extender Act of 2017
Client expense: $190,000 · Firm income: Not reported
Government targets: Bureau of Land Management (BLM), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Natl Highway Traffic Safety Administration (NHTSA), Office of Management & Budget (OMB), SENATE, U.S. Forest Service
2017 · fourth_quarter · Taxation/Internal Revenue Code
S 205, Death Tax Repeal Act of 2017 S 393, LEAP Act S 638/HR 1296, Promoting More American Manufacturing Jobs Act S 707/HR 116, Main Street Fairness Act S 1293/HR 3068, Invent and Manufacture in America Act HR 111, Support Our Start-Ups Act HR 451, Permanently Repeal the Estate Tax Act HR 1425, Bring Small Businesses Back Tax Reform Act HR 2091, Motorsports Fairness and Permanency Act HR 3159, Family Business Preservation Estate Tax Act HR 1, Tax Cuts and Jobs Act S 2256, Tax Extender Act of 2017
Client expense: $210,000 · Firm income: Not reported
Government targets: Bureau of Land Management (BLM), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Natl Highway Traffic Safety Administration (NHTSA), SENATE, U.S. Forest Service
2017 · third_quarter · Taxation/Internal Revenue Code
S 205, Death Tax Repeal Act of 2017 S 393, LEAP Act S 638/HR 1296, Promoting More American Manufacturing Jobs Act S 707/HR 116, Main Street Fairness Act S 1293/HR 3068, Invent and Manufacture in America Act HR 111, Support Our Start-Ups Act HR 451, Permanently Repeal the Estate Tax Act HR 1425, Bring Small Businesses Back Tax Reform Act HR 2091, Motorsports Fairness and Permanency Act HR 3159, Family Business Preservation Estate Tax Act House Republican A Better Way for Tax Reform Blueprint
Client expense: $235,000 · Firm income: Not reported
Government targets: Bureau of Land Management (BLM), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Natl Highway Traffic Safety Administration (NHTSA), SENATE, U.S. Forest Service
2017 · second_quarter · Taxation/Internal Revenue Code
S 205, Death Tax Repeal Act of 2017 S 393, LEAP Act S 638/HR 1296, Promoting More American Manufacturing Jobs Act S 707/HR 116, Main Street Fairness Act S 1293/HR 3068, Invent and Manufacture in America Act HR 111, Support Our Start-Ups Act HR 451, Permanently Repeal the Estate Tax Act HR 1425, Bring Small Businesses Back Tax Reform Act HR 2091, Motorsports Fairness and Permanency Act HR 3159, Family Business Preservation Estate Tax Act House Republican A Better Way for Tax Reform Blueprint
Client expense: $195,000 · Firm income: Not reported
Government targets: Bureau of Land Management (BLM), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Natl Highway Traffic Safety Administration (NHTSA), SENATE, U.S. Forest Service