Measure giving farm families relief from Illinois’ estate tax gets bipartisan push – Center Square

“Our incomes are very similar to other occupations like nurses, police officers and firefighters, but unlike people in those honorable professions, our ability to maintain an income for our family comes from the farm,” Illinois Farm Bureau President Brian Duncan said. “And unfortunately we're often faced with the decision to have to sell off part of our business to meet the tax obligation.”
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Sly
2 months ago

The long-term goal is to reduce the threshold and increase tax revenue. Family farms have been an obstacle to that goal. By carving out the farms, this creates a separate class of all other liquid assets (stocks, mutual funds, cash, etc.) fair game for reduced thresholds and increased taxes. If you thought you were below the current threshold and exempt now, then don’t be surprised if your assets are impacted in the future.

Last edited 2 months ago by Sly
debtsor
2 months ago

This is Illinois. THE ONLY goal is to force the family farmer off the land so that Big Ag or Bill Gates can buy it, and then hire illegal immigrants to farm it. Our leadership HATES white conservative farmers. Some of our state reps look to Zimbabwe and South Africa and want to recreate their disastrous land reform. Because they think farming is easy – you just put seeds in the ground and stuff grows, right?

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