The family-owned business exclusion, enacted as part of the Taxpayer Relief Act of 1997 contained numerous omissions and ambiguities as enacted. A letter from the Joint Committee on Taxation to Sen. Charles E. Grassley of Iowa has provided additional insights into JCT’s view of how the statute should be interpreted.
"More on FOBE,"
Agricultural Law Digest: Vol. 8
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol8/iss24/1