News & Events
Delivering a message
A group of Ohio Farm Bureau Young Agricultural Professionals recently delivered 1,576 postcards from Ohio farmers to lawmakers, urging them to “Put death taxes to rest.” The effort was part of a national campaign by American Farm Bureau. Unless Congress acts this year, the federal estate tax, commonly called the “death tax,” is scheduled to increase to 55 percent with a $1 million exemption at the beginning of 2011.That could hit farmers hard, because 84 percent of farm assets are real-estate based. As many as 10 percent of farms and ranches could owe estate taxes next year, according to the U.S. Agriculture Department.