| |
Entire Sample
(n=967) |
Family Agri-businesses
(n=39) |
| Business and
Owner Characteristics: |
|
|
| Owner or
Co-owner of the business |
100% |
100% |
| Owners
consider the business to be a family business |
95% |
97% |
| Business in
the family two or more generations |
81% |
79% |
| Media year
business founded |
1953 |
1954 |
| Median age of
business owner |
51 |
53 |
| Average
annual gross revenues |
$39.7 million |
$23.9 million |
| Median annual
gross revenues |
$15.0 million |
$10.0 million |
| Average
number of employees |
190 |
105 |
| Median number
of employees |
81 |
47 |
| Average
annual payroll |
$10.4 million |
$2.8 million |
|
| Estate Characteristics and planning
efforts: |
|
|
| Average
business' estimated market value |
$20.7 million (n=554 of 967) |
$7.3 million
(n=25 of 39) |
| Average
owner's total estate |
$58.7 million (n=519 of 967) |
$16.1 million
(n=24 of 39) |
| Median
owner's total estate |
$11.7 million |
$7.3 million |
| Have basic
will |
92% |
95% |
| Estate
planning beyond basic will |
86% |
87% |
| Median time
working with family on estate plan |
5 years |
10 years |
| Median time
working with advisors on estate plan |
5 years |
5 years |
|
| Past
experience with estate taxes: |
|
|
| Paid estate
taxes on the estate of the previous generation |
38%
(n=282 of 745) |
43%
(n=13 of 30) |
| Median year
estate settled |
1984 |
1985 |
|
| Collective impact of responding firms: |
|
|
| Annual gross
revenues |
$38.4 billion |
$739.7 million |
| Total
employment |
183,600 |
4,100 |
| Total payroll |
$10.1 billion |
$72.2 million |
