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Under the Tax Cuts and Jobs Act, Only 0.11 Percent of Farm Estates Would Have Owed Estate Taxes in 2016

Siraj Bawa ()

Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, 2018, vol. September 2018, issue 08

Abstract: Recently passed in December 2017, the Tax Cuts and Jobs Act (TCJA) not only changed the Federal income tax system but also doubled the estate tax exemption amount to $11.18 million per individual. Had the TCJA been in effect in 2016, ERS estimates only 0.11 percent of these estates would owe estate taxes. Across all estates that owe tax, the aggregate liability was estimated at $104 million.

Keywords: Agricultural Finance; Financial Economics; Labor and Human Capital (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersaw:302648

DOI: 10.22004/ag.econ.302648

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