BRMs

[LEP]

Lep i think you are wrong.
IF I FARMED in Montana and decided to sell got millions, set up my home before in Florida as my principle residence. Pay Montana tax on sale, under the new system in usa have huge capital gains exemption transfer the wealth to Florida pay fed tax on earnings each year, but rest is like our tax free because ansmericanliving in Florida pays no tax on investments.

American system is way better.

That may be.

The articles that I have read talk about family transfers in the cornbelt where as the farm transfers between generations a portion of the land has to be sold to pay the tax and the farms get smaller each transfer because of that.

[farmaholic]

So to rephrase they pay 90% of 70% which equals 63% of your olympic average? Did I get that right or did I miss something?

Yes in essence, but as low as 63% if it was a complete bust. Ironically, the smaller the production margin drop below 70% of your reference margin the better your payment on a percentage of the drop. I'll see if I can get someone to put it in a spread sheet and either he or I will post it

[farmaholic]

Here is the spread sheet...
Who do you think needs more money? The guy with more of a production margin loss or the guy with less. It's backwards, albeit not huge. Thanks to a friend who made the chart for me.

[fjlip]

That may be.

The articles that I have read talk about family transfers in the cornbelt where as the farm transfers between generations a portion of the land has to be sold to pay the tax and the farms get smaller each transfer because of that.

Read the BIG wonderful Bill.....Trump FIXED that! 15 million tax free!