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Ohio Farm Bureau has issued an Action Alert, encouraging members to write to their members of Congress today, urging their support for the continued use of stepped-up basis.

Current proposals in Washington, D.C. would eliminate stepped-up basis, double capital gains tax rates and charge a new capital gains tax at death on the appreciation of assets like farmland. These proposals will crush family farms and small businesses throughout Ohio and across the country, all in the name of raising revenue for more government spending.

For some background, a new Legal with Leah podcast has been released. Leah Curtis, Ohio Farm Bureau’s policy counsel, explains what stepped-up basis is and how it is used when taxing capital gains, as well as what the implications of these changes in the tax code would be for agriculture.

Ohio Farm Bureau · Legal with Leah – Capital Gains Tax and Stepped-Up Basis
Ohio Farm Bureau · Legal with Leah – Capital Gains Tax and Stepped-Up Basis

Farms are often kept in the family for many years. Tracking the appreciation of land and equipment over a period of decades would be extremely complex, and the value of land is likely to have increased so much that without stepped-up basis the next generation of farmers and ranchers could be forced to sell the land just to pay the taxes. 

Member messages are important to not let this happen. This proposal and possible exemptions for farms are being considered now. Take action and write to your lawmakers today. Here is a direct link to Farm Bureau’s Stepped-Up Basis Action Alert.

Thank you for your time and effort for this important issue.

New and beginning farmers
My first recommendation in your journey is to start out with a local farming friend or mentor along with joining an organization like Ohio Farm Bureau.
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Greg McGlinch

Darke County Farm Bureau

Growing Tomorrow Grant
We’re just so thankful for the Farm Bureau and the foundation for helping put this together. And of course, the Boyert family for the vision they had with this grant. It’s jumping us forward 10 years. It’s unbelievable.
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Nathan and Jill Parriman

Clermont County Farm Bureau

Bringing the farm back to life
I could not have done it without the resources I have found through Farm Bureau.
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Gretchan Francis

Trumbull County Farm Bureau

Youth pathways in Farm Bureau
It wasn’t until I joined the Wilmington College Collegiate Farm Bureau that I truly saw how my passion could translate into leadership, advocacy and a career.
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Wyatt Morrow

Clinton County Farm Bureau

Giving farmers a voice
The issue of property taxation remains as one of the biggest challenges our members face today. Ensuring agricultural property is valued for its agricultural potential and not development is critical to the continued success of Ohio agriculture.
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Matt Aultman

Darke County Farm Bureau

Select Partner Program
Through the Select Partner program, we became educated in farm insurance and weren't just selling policies. It became more and more clear why farmers need an advocate like Ohio Farm Bureau.
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Chad Ruhl

Farm manager, CSI Insurance

Advocacy
So many of the issues that OFBF and its members are advocating for are important to all Ohioans. I look at OFBF as an agricultural watchdog advocating for farmers and rural communities across Ohio.
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Mary Smallsreed

Trumbull County Farm Bureau

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