Roger McEowen, Professor of Agricultural Law and Taxation at the Washburn University School of Law joined us on Monday’s Ag Issues program. McEowen focused on a couple of topics including the Packers and Stockyards Act and talks about a new law enacted in late 2020 as part of a massive spending bill addresses the issue, concerning protection for unpaid cash sellers of livestock, by amending the PSDA to provide a statutory trust for unpaid cash sellers of livestock to a livestock “dealer.”
McEowen also looked at the issue of valuation discounting through the use of family-0wned business entities. It has become a popular estate and gift tax planning technique. With the new Administration and Congress in place, will estate tax valuation regulations be put in place that diminish or eliminate the valuation discounting technique? McEowen discusses the possibility of that happening.