U.S. Congress - H.R.6289 Save Family-Owned Farms and Small Businesses Act of 2008
H.R.6289 - Save Family-Owned Farms and Small Businesses Act of 2008
To amend the Internal Revenue Code of 1986 to increase the maximum reduction in estate tax value for farmland and other special use property, to restore and increase the estate tax deduction for family-owned business interests, and for other purposes. view all titles (2)
All Bill Titles
- Official: To amend the Internal Revenue Code of 1986 to increase the maximum reduction in estate tax value for farmland and other special use property, to restore and increase the estate tax deduction for family-owned business interests, and for other purposes. as introduced.
- Short: Save Family-Owned Farms and Small Businesses Act of 2008 as introduced.
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Official Summary
6/18/2008--Introduced.Save Family-Owned Farms and Small Businesses Act of 2008 - Amends the Internal Revenue Code to: (1) increase to $1.85 million the maximum reduction amount for alternative valuations of farmland and other business property for estate tax purposes; and (2) restore afterOfficial Summary
6/18/2008--Introduced.Save Family-Owned Farms and Small Businesses Act of 2008 - Amends the Internal Revenue Code to:
(1) increase to $1.85 million the maximum reduction amount for alternative valuations of farmland and other business property for estate tax purposes; and
(2) restore after 2008 the estate tax deduction for family-owned business interests and increase such deduction to $2 million. Allows annual inflation adjustments to such increased amounts after 2009.
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