To amend the Internal Revenue Code of 1986 to exclude from the value of taxable estates bequests to certain exempt organizations.

USA115^th CongressHR-6329| House

| Updated: 7/10/2018

Family Business Legacy Act of 2018 This bill amends the Internal Revenue Code, with respect to the estate tax, to allow the value of the taxable estate to be determined by deducting from the value of the gross estate the amount of all bequests, devises, or transfers to or for the use of certain tax-exempt organizations. The deduction allowed by this bill for any transfer may not exceed the value of the transferred property required to be included in the gross estate.

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Taxation

Income tax deductionsInterest, dividends, interest ratesTax-exempt organizationsTransfer and inheritance taxes

To amend the Internal Revenue Code of 1986 to exclude from the value of taxable estates bequests to certain exempt organizations.

USA115^th CongressHR-6329| House

| Updated: 7/10/2018

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Kristi L. Noem

Republican Representative

South Dakota

Cosponsors (1)

Jason Smith (Republican)

Ways and Means Committee

Taxation

Introduced
In Committee
On Floor
Passed Chamber
Enacted

Income tax deductionsInterest, dividends, interest ratesTax-exempt organizationsTransfer and inheritance taxes

To amend the Internal Revenue Code of 1986 to exclude from the value of taxable estates bequests to certain exempt organizations.

Suggested Questions

Taxation

To amend the Internal Revenue Code of 1986 to exclude from the value of taxable estates bequests to certain exempt organizations.

Suggested Questions

Kristi L. Noem

Ways and Means Committee

Taxation

To amend the Internal Revenue Code of 1986 to exclude from the value of taxable estates bequests to certain exempt organizations.

Suggested Questions

Taxation

To amend the Internal Revenue Code of 1986 to exclude from the value of taxable estates bequests to certain exempt organizations.

Suggested Questions

Kristi L. Noem

Ways and Means Committee

Taxation