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Tax Reform and Agribusiness: Opportunity and Controversy

Tax Reform and Agribusiness: Opportunity and Controversy

“The Tax Cuts and Jobs Act of 2017 includes several benefits for small businesses, including farmers. The new law provides an opportunity for most farmers to increase some deductions and to have income taxed at generally lower rates. However, as a result of hastily drafted language added in the final stages of the tax legislation, there was a controversial provision that had benefited farmers who sell products to cooperatives.”

Read the complete article compiled by Bryanna Fredericks and Barry Groebel of Herbein on the PICPA website:  https://www.picpa.org/articles/journal-articles/article/2018/04/24/pa-cpa-journal-tax-reform-guide-tax-reform-and-agribusiness-opportunity-and-controversy