120 new acres

Todd M. Bolton tmbolton at erols.com
Sat Oct 11 12:50:08 EST 1997


Paul Morgan wrote:
> 
> I recall reading some time ago how the inheritance tax is destroying private
> woodlot ownership in Maine.  Apparently, when the bill comes due, the
> families have no choice but to subdivide and develop.  Yet another case of
> the government needing to confiscate large sums to mitigate the damage
> caused by those same tax policies.  (Kinda like paying a fishing license fee
> to pay game wardens to ensure that you have paid your fishing license fee.)
> 

I seem to remember that current Fed tax inheretence does not start until
$600,000.  The most recent tax changes, a month or so back, will slowly
increase this amount at slightly more than 4% per year.  With that ifno,
if it is correct, I guess I need to ask what is a "small" woodlot
owner?  I would think that anyone with that amount of forest lands would
go commercial and incorportate.  Owner sells 90% of the land to his
corporation and pay himself via the corporate payroll.  Upon retirement
sell the company to the children on an extended payment schedule.  Might
technically cause the destruction of "private woodlot ownership", but
not the actuality.



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