Plus the federal estate tax only starts at $15M for an individual and $30M for a married couple, so it has no effect on what most would consider a "small" business.
Most people on this forum would be served well (or at least their heirs) by spending a few thousand on an estate lawyer to prevent their heirs from having to waste time in probate court.
My concern with estate taxes is, like I said, the potential destruction of functioning businesses-- just what was discussed in the article.
I know the tax code has provisions to permit an extension of up to fourteen years for payment. There's a non-tax-deductible interest expense, though. A business with low margins might not be able to absorb that expense even over a 14 year time window.
In the end I'm probably thinking too theoretically. Perhaps there are no real businesses large enough to exceed the estate tax exemption that haven't otherwise planned for succession.
I may just be getting "the feels" about theoretical jobs being destroyed in service of taxation.
re: small business
In my mind, at least, a business w/ a $30 million capitalization is a small business. Where I am (rural Ohio) a decently-sized family farming operation could hit that $30M cap (with land prices being what they are now). That's between 1,500 and 2,000 acres of farmland at market price. That doesn't take into account potentially inflated valuations as a result of datacenter speculators. In my county we've seen a Meta datacenter project pay 10x market value for farmland (resulting in skewed property tax valuations across the entire county).