Managing for Profit

New tax law provides advantage for farmers selling to cooperatives

The 199A deduction in the new federal tax law gives an unexpected tax break to farmers who sell their ag commodities to cooperatives rather than private grain handlers. Key senators and farm groups agree the provision needs to be fixed, but there’s some uncertainty over how to get that done.

On today’s program, we hear comments on this issue from Tommy Irvine, a CPA with the accounting firm K-Coe-Isom, and Luke Beckman, grain sales manager with Nebraska-based Central Valley Ag cooperative.

AUDIO: Tommy Irvine and Luke Beckman