A bill working its’ way through the state house would change the way Illinois enforces the estate tax for farmers.
Currently estates over $4 million are taxed but a proposal by State Senator Dave Kohler and others would raise the exemption to $6 million. That total, however, only applies the value of land.
Kohler says bill is in committee.
There is companion legislation in the House.
***Courtesy of farmweeknow.com***
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