A bill to amend the Internal Revenue Code of 1954 to provide a more equitable estate tax treatment of joint interests in farm and closely held business property.

referredUnited States· United States Congress· EN

Introduced

10 April 1978

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Amends the Internal Revenue Code to allow a surviving spouse to treat as furnished consideration, for estate tax purposes, up to a 50 percent share of any joint farm or small business property which was unpaid for at the time of marriage, determined at the rate of two percent a year if such spouse actually participates in the operation of such farm or small business.

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Documents

1 official file

Introduced in Senate
summary · EN · 10 April 1978
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/senate-bill/2865
Open data entity: https://api.congress.gov/v3/bill/95/s/2865