FLA is at the forefront ensuring policy makers understand the unique operations of managing and owning timberland regarding tax policy.
The Quick Update
Writing the Actual Tax Legislation and Getting to the Details
Rest assured, FLA is working not only to safeguard timber tax provisions in tax reform efforts, but that they are not put on the chopping block and seen as a “special interest” tax break.
With your support, we can stay in front of the priority issues for private forest landowners. You can trust that we are watching out for, and advocating, for your interest in both the Trump Administration and U.S. Congress, so be cautious of speculation on what might be and might not be in proposed legislation. We will continue to keep you informed of developments and progress on tax reform legislation as we continue to meet with senior leadership officials in both chambers to ensure that timber specific priorities will be included.
Advocating for Tax Provisions on Your Behalf
FLA has been engaged in meetings with legislative influencers including the Chair and Ranking Member of the Senate Committee on Finance and the House Ways & Means Committee advocating for tax provisions which benefit family forestry businesses. Following are meetings FLA has had advocating on behalf of forest landowners on tax policy.
Senate Finance Committee
Sen. Richard Burr (R-NC)
Sen. John Cornyn (R-TX)
Sen. Orrin Hatch (R-UT) (
Sen. Jonny Isakson (R-GA)
Sen. Bill Nelson (D-FL)
Sen. Tim Scott (R-SC)
Sen. John Thune (R-SD)
Sen. Mark Warner (D-VA)
Senate Finance Committee, Senior Tax and Energy Counsel
Senate Finance Committee, Republican Tax and Oversight Counsel
House Ways and Means Committee
Rep. George Holding (R-NC)
Rep. Terri Sewell (D-AL)
Rep. Richard Neal (D-MA)
Rep. John Lewis (D-GA)
Rep. Tom Rice (R-SC)
House Ways & Means Committee, Tax Policy Subcommittee, Tax Counsel
House Speaker Paul Ryan (R-WI), Senior Tax Counsel
FLA supported the below letters of support related to tax reform.
- September 12, 2017: Letter to Senate Majority Leader McConnell, Speaker Ryan, Chairman Hatch, and Chairman Brady supporting the inclusion of full and permanent repeal of the federal estate tax as part of comprehensive tax reform
- April 27, 2017: Letter to Treasury Secretary Steven Mnuchin reiterating our request for the pending 2704 estate and gift tax regulations to be withdrawn.
- September 29, 2016: Sent a Call to Engage to FLA members that resulted in 41 Members of Congress sending a letter to Treasury Secretary Lew expressing serious concerns over proposed regulations (REG-163113-02) published on August 4, 2016, under Internal Revenue Code section 2704 (“proposed regulations”) that, if finalized in their current form, will significantly increase the estate tax burden on family businesses.
- September 22, 2016: Letter to Treasury Secretary Jack Lew opposing the Department of Treasury’s proposed changes to Section 2704 on estate and gift tax valuation discounts. These rules will significantly change family businesses’ succession plans and make it harder for family owned businesses to transition to the next generation. The changes proposed to Section 2704 would remove legitimate valuation discounts for estate, gift, and generation skipping taxes which businesses have used for the past two decades in order to prevent the IRS from overvaluing their businesses at death.
- November 3, 2016: Sent Call to Engage to FLA members resulting in 24 U.S. House Representatives signing a letter to Treasury Secretary Lew stating the proposed rule regarding Section 2704 is not consistent with congressional intent.