NCBA also noted that a third of producers have paid the Death Tax and , of that group , 35 % have paid the Death Tax more than once .
From the President
Mark Eisele
TAXES ARE OUR FOCUS IN 2025
In last month ’ s issue , I shared my personal story of how the Death Tax almost killed my dream of ranching with my family . The Death Tax , and higher taxes as a whole , are some of the biggest threats facing our farms and ranches . That is why NCBA is leading the fight for lower taxes and making this issue our priority for next year .
Back in 2017 , NCBA helped pass legislation called the Tax Cuts and Jobs Act . This bill reduced taxes on farms and ranches , limited the impact of the Death Tax , and helped cattle producers save more of their hard-earned money . Unfortunately , this bill is set to expire at the end of 2025 , and we cannot afford to lose these good tax provisions .
NCBA has already started meeting with policymakers to make sure Congress passes new legislation to reduce taxes . This fight is deeply personal for me because I know what can happen if the government sees our farms and ranches as a way to increase tax revenue . One of the biggest challenges in this fight is ensuring policymakers actually understand our way of life . Too often , D . C . lawmakers think the value of our land and equipment means we have big bank accounts ready to pay tax bills . The truth is , assets like land and equipment might look like big numbers on a balance sheet , but those resources are not easily liquidated , and they are necessary for our operation to function .
To help educate policymakers , NCBA spent several months conducting a tax survey of cattle producers to give us accurate data on how tax provisions impact our businesses . The data showed that the cattle industry is clearly unique . We are a familydriven industry with 99 % of respondents running family farms or
NCBA also noted that a third of producers have paid the Death Tax and , of that group , 35 % have paid the Death Tax more than once .
ranches and nearly two-thirds being the third generation or more on the operation . That legacy is important to defend .
NCBA also noted that a third of producers have paid the Death Tax and , of that group , 35 % have paid the Death Tax more than once . When a family member passes away and leaves the farm or ranch to the next generation , that is already a deeply challenging and emotional time . Imagine having to go through that process multiple times , and each time you mourn a loved one , the IRS shows up to collect a bill . What truly concerns me from our survey is the burden taxes place on the day-to-day management of your operation . Eighteen percent of producers sold land or other assets to pay a tax bill , 9 % took out a loan or lien , and 25 % were not able to invest in their operation because of their tax bill . A quarter of producers are also budgeting at least $ 10,000 annually just on tax preparation and filing , not even counting the tax bill .
I never want to see a producer be forced to sell off assets , take on debt , or be unable to expand their business because of crippling tax bills . NCBA has always led the fight against taxes , and we will continue fighting to protect your farming and ranching legacy .
To win in Washington , D . C ., we need two things on our side : data and a story . We have data from the NCBA tax survey showing the urgent need for tax relief to keep farms and ranches in business , and we have your story about the values , hard work and dedication you bring to your operation every day . Together , that is a winning combination that will help us secure new tax relief for cattle producers in 2025 . www . NCBA . org NATIONAL CATTLEMEN 7