In 1995 AED conducted a survey of its members in
an effort to determine the impact that the estate tax
has on the equipment distribution industry. The results
were staggering. We found that our industry had spent
more than $6 million on lawyers and accountants to set
up estate plans to prevent the tax from destroying
family businesses upon the death of the current
generation of owners. We also found that distributors
were spending $5 million a year to buy life insurance to
provide cash to pay the tax when it comes due. The
survey sent shock waves across Capitol Hill because it
illustrated so concretely the misdirection and
inefficient use of capital caused by the tax. Many
credit the AED estate tax report with helping to build
momentum for repeal on Capitol Hill in recent
years.
In
anticipation of the final push to repeal the tax later
this year, AED is updating the estate tax study. But,
for it to be meaningful, WE NEED YOUR HELP!!! Please
fill out the following brief survey about the impact
that the estate tax has had on your business and submit
it to AED no later than February 25th. Your responses
will be held in the strictest of confidence and will
only be used in compiling our statistical report to
Congress. No identifying information will be included in
the final report. Thanks very much for your
participation.