Re: Recently inherited old tractors

Posted by THaire on June 15, 2007 at 18:04:38 from (64.12.116.14):

In Reply to: Re: Recently inherited old tractors posted by Brian in NY on June 15, 2007 at 08:59:15:

Well, I haven't gotten that far yet, Kevin. There's an estate tax that we'll have to pay when we settle the estate. I think it's 40 cents on $100 here in NC.

Unless the estate is worth a million or two, from what I've read, there's no federal tax involved. And we aren't anywhere close to that. The ceiling has been rising every year for the past several years and the law will change in 2010. No matter what though, the whole sitch is a major pain in the arse.

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