I posted this question in another board and was referred here.

I have owned these shares since the incorporation of the company which was in 1987 or so.

I am a partner in a small business of which i own 19% of the company's shares. My mother owns the controlling interest of 51% and the remainder is divided up between longterm employees. A much larger company has approached us to buy up our operation and bring it under their ownership for 1.5 million. We are seriously considering this, as it would provide a nice cashout for my Mom's retirement, but the question I have is...

What would the Capital Gains tax ramifications be for both my mother and myself?

My Mother has had her shares put in a some sort of estate trust for a few years now based on recommendations of an estate attorney, and she isn't sure our that will be affected.

Mine would just be getting a lump sum of cash. My wife and I's 2000 taxable income was around 34,000, and our combined gross was around 74,000.
What tax rate can I expect to incur on what should turn out to be around 285,000 of capital gains from this sale?