Articles tagged under: taxes

Ag Coalition Expresses Concern on Tax Proposals

Published May 13, 2021

A coalition of more than 40 farm groups, including the American Sugar Alliance, is voicing concern about President Biden’s tax proposal. In a letter to congressional leadership, the groups emphasized the need for the current estate tax exclusion limits and…
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MN House Passes Omnibus Tax Bill

Published April 26, 2021

The Minnesota House passed the omnibus tax bill. Representative Paul Marquart says this bill does three things for farmers including an expansion of the beginning farmer program, updates for homestead qualification and fixes to Section 179 depreciation. "Beginning this tax…
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Infrastructure Bill on Deck

Published March 25, 2021

With the $2 trillion coronavirus assistance bill signed into law, the White House is now working on its next major initiatives. This proposal will focus on infrastructure issues, like roads, bridges and broadband. The Biden Administration also plans to include…
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January Ag Economy Barometer Shows Slight Decline

Published February 2, 2021

The January 2021 Purdue University/CME Group Ag Economy Barometer dropped seven points from the December survey to a reading of 167. Most of the decline was in the Index of Future Expectations. Survey results suggest the decline is driven by…
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With Higher Income, 2020 Tax Preparations May Look Different for Farmers

Published December 7, 2020

Tax planning is in full swing for farmers and ranchers as this year comes to a close. AgCountry Farm Credit Services Senior Tax Specialist Jason Grunewald says there are certain documents farmers should be gathering to prepare. "There was a…
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MN Legislature Passes Bonding and Tax Bill

Published October 16, 2020

The $1.36 billion bonding and tax bill passed by the Minnesota Legislature on Thursday will provide $200 million in tax breaks for farmers, including Section 179 conformity. "I think there was some concern about getting the tax bill done before…
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An Uncertain Path Forward for Section 179

Published April 3, 2020

The status of Section 179 conformity in Minnesota is unknown at this time. Lobbyist Bruce Kleven says there are a few things making an impact including a change in the budget surplus. "Earlier this year, the surplus was $1.5 billion.…
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Argentina Raising Soy Export Taxes

Published March 6, 2020

According to Argentina’s agricultural ministry, the Argentine government will raise export taxes on soybeans and soybean products. That increase could range from three percent to 33 percent for the largest producers. The ministry says the government will compensate farmers who…
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