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The current lifetime exemption/unified credit will be cut in half if the Build Back Better Act is passed as it stands!
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The bill would terminate the temporary increase in the unified credit against estate and gift taxes, reverting the credit from the current $11,700,000 per person to $6 million effective 1/1/2022!
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The reduction in the lifetime exemption/unified credit will result in an increased estate tax on many family-owned businesses. Lowering the limit will force the sale of family businesses that are illiquid, resulting in losses to local economies, job losses and cuts in civic and philanthropic contributions to the community often made by multi-generational family businesses.
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Contact Congress NOW and tell them; DON’T REDUCE THE LIFETIME EXEMPTION FOR THE ESTATE TAX!!
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For a summary of all the tax proposals affecting family businesses CLICK HERE.
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Please stay safe and healthy,
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pmsoldano@family-enterpriseusa.com 712 H Street NE Suite 1330
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About Family Enterprise USA Family Enterprise USA advocates for American Family business. We help family businesses communicate their challenges and contributions to American economic freedom to Legislators. We represent all American family businesses; not just specific industries and provide research to enhance the opportunity for success. We help family businesses continue to establish their unique business legacy. Family Enterprise USA is a 501(c)(3) non-profit organization.. Family foundations can donate.
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Have questions or would like more information about becoming a Member or donating? Please contact John Gugliada at jgugliada@family-enterpriseusa.com.
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Family Enterprise USA Sponsors
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