ARLINGTON, Va. — Food Marketing Institute here is supporting a compromise proposal on the estate tax that would reduce the rate from its current levels but would not eliminate it. The tax — sometimes called the “death tax” by businesses — is levied on inherited wealth, and it is of concern to many business owners who seek to pass their companies on to the next generation. The inherited wealth is currently taxed at a rate of 45%, but the tax was scheduled to be eliminated altogether in 2010 ...
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