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The first permanent estate tax was enacted, and taxes were imposed on the production of munitions.
Although it appears likely that Congress will settle on a permanent estate tax exemption of $3.5 million (the level for 2009, under current law) or higher, it still pays for wealthy individuals to consider giving away assets now (see story).
None of this should be an excuse to delay estate planning, however, since there is no guarantee of a stable or permanent estate law will be passed in 2010 either.
Congress will likely act this fall to continue the existing law for one year, taking up permanent estate tax reform in 2010.
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Planners always assumed Congress would settle on a permanent estate-tax level or at least a temporary fix before the tax lapsed in 2010.
Its findings, although grim, do contain a kernel of hope.The ITTO examined "permanent forest estate", meaning land that the governments of its 33 members have formally set aside for forests, and is therefore subject to some form of regulation or protection.
Yet the ITTO's researchers found that only 15% of the permanent forest estate has a management plan, and less than 5% of it is sustainably managed.
The firm has created two internal task forces, one to focus on finding either temporary or permanent real estate and another to work on computer access for employees.
And despite the fact that it has no permanent real estate, limited financial aid and no track record of placing students in top schools, six families applied for each available slot in next fall's preschool class.
The borders of the Permanent Forest Estate are the bold green lines Fig. 2 National Forest Service statistics on selective logging in the French Guiana Permanent Forest Estate between 1974 2012.
Fig. 1 Map of the Permanent Forest Estate in French Guiana.
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