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Farmers Pleased With Business Tax Deal

A tax deal headed to Governor Quinn's desk is putting a smile on the faces of some farmers across the state.  Kevin Semlow, with the Illinois Farm Bureau, says an increase in the estate tax exemption gives farmers a chance to keep their farms in-tact when there's a death in the family.

[audio:rddSem1.mp3]A Word From Semlow[/audio]

Semlow adds the proposal keeps incentives in place for ethanol and biodiesel fuels, which he says could increase demand.

[audio:rddSem2.mp3]A Word From Semlow[/audio]

The deal to help farmers was tacked onto the tax incentive bill lawmakers passed in an effort to keep Sears and the Chicago Mercantile Exchange in Illinois.  The bill also extends the Research and Development tax credit for five years and reinstates the Net Operating Loss Deduction.  That allows businesses to carry their losses forward in a tough economy.

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