Ohio Farm Bureau statement on estate tax reform

For Immediate Release

January 11, 2011

Editors: The following statement may be attributed to the Ohio Farm Bureau Federation

COLUMBUS, Ohio (OFBF) – The Ohio Farm Bureau Federation (OFBF) supports efforts by the Ohio General Assembly to eliminate the Ohio estate tax.

On average, 84 percent of farm assets are real-estate based. Burdensome estate taxes can cause the loss or break-up of family farms when heirs are forced to sell assets to pay the tax and/or administrative costs.

Elimination of the state estate tax, coupled with significant federal estate tax reforms, will allow additional generations to keep their land in farming, strengthen the rural economy and preserve Ohio’s agricultural heritage.

 

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CONTACT: Joe Cornely

PHONE: (614) 246-8230

E-MAIL: [email protected]