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Proposed Tax Regulation Threaten Multigenerational Cattle Operations

WASHINGTON– The Internal Revenue Service hosted a public hearinglast week  on a Department of Treasury proposed rule that would eliminate or greatly reduce available valuation discounts for family-related entities. Kevin Kester, National Cattlemen’s Beef Association vice president, said the regulation would effectively discourage families from continuing to operate or grow their businesses and passing them on to future generations. Many cattle operations are family-owned small businesses, facing the same concerns as other small-businesses - making payroll, complying with numerous federal and state regulations, and paying bills, loans, and taxes....



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