Who benefits from the elimination of the gift tax? The governor, for starters:
Haslam transfers Pilot stock to his three grown children, but to avoid gift taxes he sells those shares rather than give them away. The arrangement, which generates about $1.1 million a year in income to Haslam, costs less in income taxes than it would to pay gift tax by giving shares to his kids, Haslam's CPA, J. Todd Ellis, said in a 2010 interview.
POSTDATA: WARRANTY DEEDS