Farm Act Would Help Shield Farms from death tax

U.S. Representative John Salazar, a farmer and rancher from Colorado re-introduced the 2007 Save the Family Farm and Ranch Act this week. The act would shield decedents of farmers and ranchers from having to sell the farm in order to pay death taxes when their parent pass away by deferring the taxes. Salazar sites the case of T-Bone Ranch in Colorado being broken up for housing developments when the family was forced to sell in order to pay inheritance taxes. Rising land values in numerous areas across the country create a similar situation for many farm families when they’re forced to pay large amounts of taxes on the deaths of their loved ones. For more information read the Valley Courier Online article.

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