Contact Congress: BBB Framework Has New Tax on Individuals and Trusts and Estates
There Is A New Additional Tax For Individuals And Trusts And Estates.
Hidden in the BBB Framework of 1660 pages, was a SPECIAL SURTAX THRESHOLD FOR TRUSTS AND ESTATES. While individuals who have income of $10 million or more will pay a 5% surtax tax, TRUSTS AND ESTATES WILL PAY a 5% surtax if they have $200,000 or more!!!
And if an individual has income of $25 million or more they will pay an additional surtax of 3%, TRUSTS AND ESTATES WILL PAY THE 3% surtax if they have $500,000 or more!
This is so unfair to family businesses, many of whom hold the ownership of the business in a family trust, so they can keep the business going, the employees working and the community supported!
Contact your member of Congress! Tell them that Trusts and Estates should pay the same rate of surtax that individuals do; if there has to be a surtax at all! Do not discriminate against them!
