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LANDOWNERS RUSH TO SELL AGRICULTURAL PROPERTIES BEFORE NEW 2013 TAX INCREASES
Nov. 5, 2012
LandOwner newsletter reports:
The land stampede we alerted you about in Iowa this year has spread across the Corn Belt.
Sales listings are up sharply with settlement dates set prior year end to beat the 2013 tax increases.
What tax increases are on the books?
Capital gains go from 15% to 20%, and the 3.8% Obamacare surtax lifts it to 23.8%.
Taxes on dividends (some landowners receive their income as dividends due to their ownership structure) rise from 15% to 39.6%; the 3.8% surtax lifts the rate to 43.4%.
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