The Land Report

Spring 2015

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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Page 21 of 99

L ike-kind exchanges allow domestic businesses to efficiently expand and p rosper while stimulating economic growth. Exchanges are used by a myriad of businesses, including farmers, ranchers, recreational landowners, commercial real e state investors, equipment and machinery owners, and other businesses that invest in real estate and other capital assets. Like-kind exchanges also help promote environmental conservation by allowing ranchers and farmers to sell conservation easements on environmentally sensitive parcels to conservation organizations, defer the tax, and fully reinvest in more productive, less sensitive acreage. A 2015 Ernst & Young study on the economic impact of repealing like-kind exchanges concluded that repealing the like-kind exchange rules would slow economic growth, reduce GDP, and hurt owners of real property and many U.S. small businesses. The study confirmed that a repeal of Section 1031 would result in taxation of investors across a wide spectrum of industries that, absent the tax, would continue their investment in real property and other capital assets. 20 The LandReport | S P R I N G 2 0 1 5 LANDREPORT.COM As chairman of the Senate Finance Committee, Orrin Hatch, chatting here with Speaker John Boehner, will play a decisive role in tax reform. REUTERS/GARY CAMERON

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