“Farmers and ranchers are small business people, and so the importance of being able to pass on a family business to the next generation is intrinsic to our businesses [and] our goals,” said Ellingson, 43, who co-owns Ellingson Angus, with her husband Chad.
Founded in 1995 near the town of St. Anthony in the south central part of North Dakota, Ellingson Angus breeds bulls, heifers, and cows to sell to other ranchers.
Ellingson says action by Congress and President Donald Trump on tax reform, and specifically eliminating the death tax, is essential for her to be able to pass on the family business to her children.
“The estate tax, or the death tax as it is probably more appropriately called, along with capital gains taxes certainly impairs the ability of many families in creating the opportunity for the family business to continue, without some very significant burdens,” Ellingson said....
The implications of tax reform reach far beyond her own family, Ellingson said.“That’s not only important to the families who are living there and working in those industries, but for the broader U.S. economy and obviously for the source of food for the United States and beyond. So that stability is a pretty big deal for all Americans.”
http://dailysignal.com/2017/09/19/tax-reform-a-big-deal-to-a-mom-who-wants-to-keep-ranch-in-the-family?mkt_tok=eyJpIjoiT0RJM056SmlaamxqT0RaaSIsInQiOiJ3dGhIWFRnRjN1Zk10UHdRd0h4UzRwNklvS2Z4SW1uUFRTNk9LODRTYWZtemVEQ0JrTGRWRGlkSGgrS3BrOXduOTE1RmQ0d21yUEdhVlZ2
Founded in 1995 near the town of St. Anthony in the south central part of North Dakota, Ellingson Angus breeds bulls, heifers, and cows to sell to other ranchers.
Ellingson says action by Congress and President Donald Trump on tax reform, and specifically eliminating the death tax, is essential for her to be able to pass on the family business to her children.
“The estate tax, or the death tax as it is probably more appropriately called, along with capital gains taxes certainly impairs the ability of many families in creating the opportunity for the family business to continue, without some very significant burdens,” Ellingson said....
The implications of tax reform reach far beyond her own family, Ellingson said.“That’s not only important to the families who are living there and working in those industries, but for the broader U.S. economy and obviously for the source of food for the United States and beyond. So that stability is a pretty big deal for all Americans.”
http://dailysignal.com/2017/09/19/tax-reform-a-big-deal-to-a-mom-who-wants-to-keep-ranch-in-the-family?mkt_tok=eyJpIjoiT0RJM056SmlaamxqT0RaaSIsInQiOiJ3dGhIWFRnRjN1Zk10UHdRd0h4UzRwNklvS2Z4SW1uUFRTNk9LODRTYWZtemVEQ0JrTGRWRGlkSGgrS3BrOXduOTE1RmQ0d21yUEdhVlZ2