Subscribe to Entrepreneur for $5
Subscribe

State of the Estate

Will congress finally repeal the estate tax for good?

By
This story appears in the June 2005 issue of Entrepreneur. Subscribe »

Small-business advocates are making renewed attempts to permanently repeal the estate tax, which is being phased out between now and 2010, only to reappear in 2011. Senate and House versions of the Death Tax Repeal Permanency Act of 2005 (S. 420/H.R. 8) have been introduced, and they have bipartisan support. The House and Senate budget resolutions for fiscal 2006 look like they will allow for the extension of some tax cuts passed in 2001 and 2003--now comes the fight for which cuts will be extended or made permanent.

In June 2003, the House passed a permanent repeal of the estate tax, but the Senate Finance Committee never took it up. The House recently re-passed the bill on April 13. But will the Senate block it again?

Continue reading this article - and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.

Entrepreneur Editors' Picks