For the last several years, industry leaders and key legislators have been working hard to pass and perfect workable estate tax reform that gives relief to family-owned nurseries and other resource-based businesses (farms, timber operations, fishing operations). Although the Oregonian published coverage that overemphasized the extremes of the debate at the expense of a fair understanding, House Bill 2541 is a balanced package. It offers a higher threshold for taxation and phased tax levels depending on the value of the estate. OAN Executive Director Jeff Stone sets the record straight in this guest editorial, explaining why it is so important that the Senate follow the House’s example by passing the bill.
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