Springfield, IL -- A tax deal headed to Governor Quinn's desk is putting a smile on the faces of some farmers across the state. Kevin Semlow, with the Illinois Farm Bureau, says an increase in the estate tax exemption gives farmers a chance to keep their farms in-tact when there's a death in the family. "A lot of times what happens is there are many families that sell off parts of their farm to be able to pay and afford the taxes that are due when there is a loss in the family, and this will enable them to keep that farm more intact. Some of these farms have been in their families for three, four, or five generations", said Semlow. The deal to help farmers was tacked onto the tax incentive bill lawmakers passed in an effort to keep Sears and the Chicago Mercantile Exchange in Illinois. The bill also extends the Research and Development tax credit for five years and reinstates the Net Operating Loss Deduction. That allows businesses to carry their losses forward in a tough economy. http://bit.ly/tenSb0
