BOSTON (September 26, 2017): In response to the Joint Committee on Revenue hearing regarding estate tax reform bills this morning, the following statement may be attributed to National Federation of Independent Business (NFIB) Massachusetts State Director, Christopher Carlozzi:
The bills before committee members today recognize that the estate tax forces the families of deceased small business owners and farmers to make difficult and often rash business decisions. Due to the nature of non-liquid assets often left by those that have worked a lifetime to build a business, grieving relatives are further burdened by Massachusetts’ unfair tax policy.
The need for estate tax reform is certainly long overdue, and the small business community strongly supports these proposals. The time has come for Massachusetts to join the nationwide effort to reform, phase-out, or repeal this tax that is inherently inequitable for small business owners and farmers.
