capital gains

Muzzall: Capital Gains Tax Likely To Hit Ag
Muzzall: Capital Gains Tax Likely To Hit Ag
Muzzall: Capital Gains Tax Likely To Hit Ag
As the debate over a capital gains tax in Washington continues, it’s looking more and more likely that the farming community will be subject to those taxes, despite earlier assurances that they wouldn’t be.  At issue is the constitutionality of the capital gains tax passed by lawmakers in April 2021, that looks to issue a 7% tax on all transactions of $250,000 or great.  The issue is curren... Rea
WCA Joins Suit Over Capital Gains Tax
WCA Joins Suit Over Capital Gains Tax
WCA Joins Suit Over Capital Gains Tax
An agricultural group has put its name on a lawsuit opposing the new capital gains income tax in Washington. The Washington Cattlemen’s Association and the Building Industry Association of Washington filed a second amicus brief Monday opposing the state’s tax on capital gains. The Was ...
Ag Lawmakers Warn Of Potential Harm In Spending Bill
Ag Lawmakers Warn Of Potential Harm In Spending Bill
Ag Lawmakers Warn Of Potential Harm In Spending Bill
Sweeping tax changes for Ag are included in the Democrats’ massive social spending bill, which could soon be headed to the House floor. Supporters of farm country said this week the best news for agriculture is that House Democrats dropped the president’s plan to impose a capital gains tax on producers at death. The idea ...
Duval Farmers Need Stepped-Up Basis To Remain
Duval Farmers Need Stepped-Up Basis To Remain
Duval Farmers Need Stepped-Up Basis To Remain
American Farm Bureau President Zippy Duval pushed back against the Biden Administration’s stance that most small family farmers will escape a proposed capital gains tax to replace the stepped-up basis. Duval disputed the White House’s claim that a $2 million per couple exclusion on the gain on farm assets and that passed onto children, will let most off the hook on any new capital gains tax. “Wel
May Ag Economy Barometer Tumbles
May Ag Economy Barometer Tumbles
May Ag Economy Barometer Tumbles
The Purdue University/CME Group Ag Economy Barometer tumbled significantly in May, dropping 20 points to an index reading of 158. That marks the lowest point for the survey since September. Producers were less optimistic about both the current conditions and the future of the agricultural economy ...
NCBA: Administrations Tax Proposal Threatens The Viability Of Family Farming
NCBA: Administrations Tax Proposal Threatens The Viability Of Family Farming
NCBA: Administrations Tax Proposal Threatens The Viability Of Family Farming
The National Cattlemen’s Beef Association says President Biden’s proposed new capital gains tax at death would be devastating for cattle producers. NCBA’s Danielle Beck said the taxes proposed to pay for massive infrastructure and social spending “threaten the viability” of family farming and cattle operations,  especially a new tax on capital gains at death that ends the ‘stepped-up basis’. “Tha
President Biden’s Tax Proposal Concerning For AFBF
President Biden’s Tax Proposal Concerning For AFBF
President Biden’s Tax Proposal Concerning For AFBF
A trio of new tax hikes for farmers and ranchers, that’s how the American Farm Bureau’s tax adviser describes President Joe Biden proposal to pay for infrastructure and social packages. During last week’s joint session of Congress, the President said: “We’re going to get rid of the loopholes that allow Americans to make more than a million dollars a year, and pay a lower tax rate on their capital
AFBF Opposes Elimination of Stepped-Up Basis and New Capital Gains Taxes at Death
AFBF Opposes Elimination of Stepped-Up Basis and New Capital Gains Taxes at Death
AFBF Opposes Elimination of Stepped-Up Basis and New Capital Gains Taxes at Death
American Farm Bureau Federation President Zippy Duvall says the organization objects to a proposal by several lawmakers to tax unrealized capital gains at death and roll back the stepped-up basis on those capital gains. Duvall said, “Taxing capital gains when a loved one passes away would have a devastating impact on farm and ranch families.” Ev ...
Schoesler: Farmers Need To Be Skeptical Of Capital Gains Tax
Schoesler: Farmers Need To Be Skeptical Of Capital Gains Tax
Schoesler: Farmers Need To Be Skeptical Of Capital Gains Tax
Despite being rejected by voters multiple times, lawmakers in Olympia are looking at putting a capital gains tax on the books in Washington. What impact would such as tax have on the farming community across the Evergreen State? State Senator Mark Schoesler, a wheat farmer from the Ritzville are, called the capital gains idea a gateway drug ...

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