Timely points of particular interest
This article touches on significant estate-tax changes in individual states as well as one idea for owners and managers to consider if thinking about growing your business in 2017.
Estate Taxes—Be aware of significant estate-tax changes in individual states. Beginning in 2017, New Jersey is increasing its estate-tax exemption, before repealing the estate tax in 2018. Several other states—including Maryland, Minnesota and New York—are increasing their exemptions, while Rhode Island and Washington index their figures. Other states—Delaware, Hawaii and Maine—will match the federal exemption of $5.49 million in 2017.
Business Alliances—How can you grow your business in 2017? One idea for owners and managers to consider is a business alliance. This is a formal business arrangement between two or more organizations to achieve shared business objectives. It includes joint ventures, franchising, cross-licensing and cross-marketing activities. There are numerous pros and cons to consider, so obtain expert advice.
For additional information, please contact your Marvin and Company, P.C. representative.