NHFA Takes Position on Saving Family Home Furnishings Retailers

Furniture World Magazine

"It is time to tell family business owners; that are important to America's future," said Steve DeHaan, executive vice president of National Home Furnishings Association (NHFA), in commending a bipartisan group of members of Congress for introducing legislation today to phase out the estate tax. DeHaan said, "For many years, we have proudly touted the fact that we have a rich tradition of multigenerational ownership in home furnishings retailing. The truth is that in recent years, our claim to fame as a family ownership industry has been put in serious jeopardy, and estate taxes have been a major factor." DeHaan continued, "Members of NHFA tell us all the time that they are sick and tired of throwing bad money after good on lawyers, accountants and financial planners just to craft an estate plan to keep the business in the family from one generation to the next." DeHaan concluded, "The time is right to send a strong message to the family-owned retailers in American that we want you and your sons and daughters and grandchildren to stand tall and be proud of your tradition. There is no better way to do that than to phase out the estate tax." Founded in 1919, National Home Furnishings Association, headquartered in High Point, is the leading national trade association serving the specific needs of home furnishings retailers, NHFA produces the Next Generation Conference, which provides a mechanism for younger family members to discover the personal and professional rewards of working in the home furnishings industry. The Conference also helps family members deal with the problems and opportunities specific to family businesses. The 1999 Next Generation Conference is scheduled for March 18-20 in Las Vegas. Nev. NHFA provides essential information, government representation, professional education and training, and business and operating tools to its 3.000 members, which represent over 10,000 stores, nationwide.