Farmers also can use conservation easements. They donate land to a qualifying tax-exempt or governmental organization and agree to keep it as open space or use it for agriculture, said Durst.
Adding up all exemptions, Durst projects that less than 1 percent of farms will be subject to the estate tax in 2009.
It’s interesting how Ron Durst, senior economist for the Department of Agriculture Economic Research Service, and the Associated Press consider donating your land to the government to be a tax exemption. Let me get this straight, if the government takes a portion of your wealth, that’s taxation, but if you give the government all of your wealth, then it’s a tax exemption.
I guess so, but only because you’ll have nothing left to tax.