Agricultural News
Colin Woodall Talks Death Tax Changes in Fiscal Cliff Deal
Mon, 07 Jan 2013 04:59:21 CST
Cattle industry lobbyist Colin Woodall says that the inclusion of a permanent fix on Estate Taxes was mostly good news for the US Cattle industry. The news was good that the exemption was set at five million dollars for an individual- and ten million for a couple, with that figure to be indexed for inflation. It was also good news that this was set into the Fiscal Cliff deal on New Year's Day as a permanent piece of legislation- so no need to go back and refight this battle in one or two years.
Woodall says the only disappointment is that to get the five million dollar exemption amount- the Obama Administration demanded the tax rate on estates over the exemption amount will be taxed at 40% instead of the 35% that was in place in 2011 and 2012.
Woodall talks about this vistory for the cattle industry in today's Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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