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Farm groups urge repeal on inheritance tax
It seems Governor Heineman isn't the only one who wants to repeal the inheritance tax collected by Nebraska counties. Two of the state's farm groups have endorsed his plan.
Leaders from the Nebraska Farm Bureau and Nebraska Cattlemen say the plan would ease the burden on young farmers who receive agricultural land from their parents. Nebraska Farm Bureau President Steve Nelson says the inheritance tax makes it difficult for new farmers because of the vast expanses of land needed to run an operation, and narrow profit margins. County officials say the loss of revenue would force them to increase property taxes. Heineman has countered that counties should trim their spending. |
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