CBO Finds Tiny Number of Farms Face Estate Tax
End Notes
[1] Congressional Budget Office, “Effects of the Federal Estate Tax on Farms and Small Businesses,” July 2005.
[2] CBO defines a farm estate as one where the decedent worked as a farmer in either the “agricultural crop” or “livestock” industry. CBO notes that, because the estate tax affects only the largest estates, farm estates “belong to wealthy people in farming industries, not to subsistence farmers or migrant workers.” CBO also finds that using alternate definitions of farm estate would not alter the report’s conclusions.
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