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
  • Conducting Due Diligence of Sub-Advisors and Third-Party Advisors Engaging in due-diligence of sub-advisors isn’t just a recommended best practice— it is part of the fiduciary obligation to a client. An RIA should be extremely reluctant to enter a relationship with a sub-advisor who claims the firm’s strategy is proprietary.
  • U.S. Securities and Exchange Commission Information This information sheet contains general information about certain provisions of the Investment Advisers Act of 1940 and selected rules under the Adviser’s Act.  It also provides information about the resources available from the SEC to help advisors understand and comply with these laws and rules.
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.