AlB—Lancaster Farming, Saturday, May 9,1981 WASHINGTON, D.C. - The National Cattlemen’s Assn, urged repeal of federal estate and gift tax laws last Friday. The recommendation was made by James P. Harper, Ashland, Kan., vice chairman of NCA’s tax committee, in testimony before the estate and gift taxation sub committee of the Senate finance committee. “While the revenue produced by 30(1 productive when such ex estate and gift taxes has been Pansmn will increase the amount Lucky youngster wins BYJOYCE BUPP Staff Correspondent LOGANVILLE The awarding One of„ . purebred Oxfords will start some lucky youngster off in the shepherd business. With this ewe and her lamb are Greg, Martha, and daughter Sarah. NCA urges repeal of estate tax laws relatively small,” Harper said, “these taxes have had and con tinue to have a devastating impact on family-owned farms, ranches and other closely held businesses. “What incentive is there for a farmer/rancher or other businessman whose operation is capital-intensive to expand the business to make it more efficient At York Co, Sheep Field Day of a “ewe chain” lamb to a registered qualifying youth will highlight the York County Sheep of tne estate tax and possibly cause a partial or total liquidation upon the death of the owner? “The disincentive for capital information has been an ever present offspring of the estate tax laws. The results have been fewer jobs, less efficient production and an economic decline. When this occurs in agricultural operations on which our nation and the world depend for food and fiber, there is truly cause for alarm.” ewe lamb and Wool Producers Second An nual Field Day, set for Saturday, May 16, at the County 4-H Center. “Our association will award a registered ewe lamb to a ' qualifying youngster under the age of 18, who will in turn donate that animal’s first female offspring back to begin the process with another winner,” says GregXau, of Loganville, chairman of the Field Day. One of the Lau family’s registered Oxford lambs will be awarded to begin the ‘ ‘ewe chain”. A full lineup of events is scheduled, leading off with sheep judging at 9:30 a.m. Participants will evaluate the classes for size, correctness and conformation, with prizes to be awarded m men’s, women’s and children’s division, plus a certificate to be given to the top junior for a sheep purchase in the sale. 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Designers of Qualify Systems for Poultry, &rine ami Grain Herding Harper said the avowed social purpose of estate tax laws—to prevent the unreasonable ac cumulation of wealth—should not be applied to family farms and ranches. In any event, the social purpose is relatively unimportant when one considers the adverse effects of these laws on capital formation and on the continued economic viability of productive and efficient farms and ranches, Harper indicated. Penn State specialist, goes in the spotlight at 11 a.m. with a demonstration of lamb carcass cutting. Steve Ebersole, Red Lion, heads up the sale committee that takes over at noon, with the auctioning of fleeces for home spinners. Beginning at 12:30, auctioneer Blain Rentzel will call for bids on the first of 100 market lambs, especially selected for youth projects. Following the market lamb sale, a wide selection of breeding stock will be auctioned, including 54 purebred ewes, 16 purebred rams, several Fin-Dorset crossbreds, which are noted for their multiple births, and a few sheep of colored varieties. Lunch will be available from the 4-H Lamb Club, and a wide variety of sheep supply exhibits and related crafts will be on display. According to Chairman Greg Lau, the event will be held rain or shine. Further information on the Sheep and Wool field day is available from County Agent Tony Dobrosky at 717/757-9657 or President George Dutrey, 717/244- 7307. The real need is for repeal of the estate tax laws, be emphasized. He voiced support of S. 404, which would end current estate and gift tax provisions. (This legislation was Introduced by Senators Symons, R., Ida.; Jepsen, R., Iowa; and Boren, D., Okla.) Until repeal can be ac complished, Harper continued, there should be amendments to the existing estate and gift tax laws. Changes are needed in order to alleviate or eliminate certain problems caused by the basic law, by 1970 and 1978 tax legislation and by Internal Revenue Service in terpretations. -Harper commented on and supported various provisions of bills to amend the estate and gift tax laws. The bills include S. 395, introduced by Wallop, R., Wyo.; Boren, D., Okla.; Byrd, Indep., Va., and 28 other Senators; S. 858, introduced by Durenberger, R., Minn., and Thurmond, R., S.C.; and S. 574, intrbduced by Kassebaumm, R., Kansas. The most comprehensive and beneficial amendments are found in the Wallop-Boreh-Byrd measure. Harper said. He urged immediate enactment of that bill. Among estate and gift tax changes recommended by NCA were these: A reduction*in the tax rate; an increase in the property value below which no estate tax would be required; removal of taxes on certain transfers of property between spouses; an increase in the annual gift tax exclusion; and changes in the special farm use valuation provision in order to encourage continued use of farming property by members of the deceased farmer’s family. SYCAMORE IND. PARK 255 PLANE TREE DRWE LANCASTER, PA 17603 (717)393-5807 Route 30 West At The Centerville Exit
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