An estate that consists primarily of the assets of a closely held business may defer payment of its estate tax liability attributable to that business for up to 20 years.

Name: An estate that consists primarily of the assets of a closely held business may defer payment of its estate tax liability attributable to that business for up to 20 years.
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The estate tax deferral for closely held businesses is generally up to 15 years, not 20 years, under certain conditions as per IRS Section 6166.

An Estate That Consists Primarily of the Assets of a Closely