The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Thu Oct 13, 2016
DENVER — The National Association of RV Parks and Campgrounds (ARVC) is calling on its members to voice their opposition to proposed changes in the Internal Revenue Code that could make it difficult for families to pass on their businesses to their heirs.
ARVC has partnered with the Family Business Coalition (FBC) to oppose the proposed changes to Section 2704 of the Internal Revenue Code, which would remove the estate and gift tax valuation discounts that protect private park operators and other small businesses from estate and gift taxes.
"What the Treasury might call closing a loophole is actually tightening the noose of punitive taxation around the neck of a family business," says Mark Hazelbaker, legal counsel to the Wisconsin Association of Campground Owners. "If the rule is adopted, family members hoping to continue the business into a new generation may have to pay 55 percent estate tax rates instead of 0. It becomes that much harder for small businesses to be handed off to heirs."
ARVC has sent out calls to action to partnering state association executives and to ARVC members encouraging them to voice their opposition to the proposed changes using the FBC’s website at www.noestatetaxhike.org. The web portal includes recent news articles on this issue as well as a template to help business owners craft their own letters to the Treasury Department. The comment period ends Nov. 2.
“The bottom line is that these regulations will force even more of our members to grapple with complicated and costly estate and gift taxes,” says Jeff Sims, ARVC’s senior director of state relations and program advocacy. “It is important that family businesses become vocal now about how this rule will affect the future of their business.”
ARVC recently joined 119 other organizations in co-signing a letter to Treasury Secretary Jack Lew opposing changes in the Internal Revenue Code.