search

The Real Deal Logo

Trending

Major developers are converting South Florida malls into mixed-use projectsMajor developers are converting South Florida malls into mixed-use projectsClipper losing tenants that occupy 93% of 250 LivingstonClipper losing tenants that occupy 93% of 250 LivingstonBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MAnywhere says bring on the broker commission reckoningAnywhere says bring on the broker commission reckoning
South Florida

Fate of estate tax unclear

Sign Up for the undefined Newsletter

As the deadline to create a permanent estate tax rate looms, democrats are scrambling to prevent a one-year repeal of the tax. According to the Wall Street Journal, House Democrats are likely to propose a one-year extension of the estate tax’s 2009 rates as a bipartisan senatorial committee grapples over the rate adjustment. One WSJ source, a House finance committee aide, said that there is still hope that the issue will be resolved before time has run out. The aide said that Senate Finance Committee Chairman Max Baucus “recognizes addressing the estate tax in the coming months is a must-do proposition, and he and Finance staff are using the August work period in part to explore ways to tackle the issue in the most complete and permanent way possible.” Currently, $3.5 million of estate wealth is tax exempt. After that, all other wealth is taxed at a rate of 45 percent.