Estate Tax Bill Heading to Full House Floor

Pomeroy bill would extend '09 tax level and impose 45% maximum rate

More On Legal & Compliance

from The Advisor's Professional Library
  • Where Are We Headed? The ultimate compliance goal is to help ensure that everyone associated with an advisory firm acts ethically at all times.  Advisors and RIAs should do the right thing, even when regulators are not looking over their shoulders.
  • Agency and Principal Transactions In passing Section 206(3) of the Investment Advisers Act, Congress recognized that principal and agency transactions can be harmful to clients. Such transactions create the opportunity for RIAs to engage in self-dealing.
An estate tax bill, H.R. 4154: introduced into the House of Representatives November 19 by Rep. Earl Pomeroy (D-North Dakota), a member of the powerful House Ways and Means Committee, is expected to come to the full House floor for a vote on Thursday, December 3. The bill would extend the 2009 estate tax level to 2010 and make permanent the estate tax at a $3.5 million exemption level and 45% maximum tax rate as proposed by the Obama Administration. A Pomeroy spokesperson said the bill is expected to pass the House and will then move to the Senate.
Reprints Discuss this story
This is where the comments go.