Section 199

Work continues in Congress to pass an omnibus federal budget by Friday.  That includes attempt to level the playing field between cooperatives and other businesses involved in grain trade and similar commodities.  What is known as Section 199-A of the recently adopted tax law.   ...

The National Council of Farmer Cooperatives and the National Grain and Feed Association are both in favor of a legislative proposal that would fix an unintended consequence of the Republican tax overhaul.  The changes to tax law give huge tax breaks to farmers who sell their goods to cooperatives over other types of businesses.  Po...

On Wednesday, a group of Republican lawmakers sent a letter to Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan calling for changes to Section 199A in the tax code.  The group of more than 80 lawmakers says the changes will restore the competitive balance in the agricultural marketplace.   ...

The Senate tax bill passed over the weekend does not include a deduction that farm cooperatives lobbied to keep in the tax reform package.  The National Council of Farmer Cooperatives says the Domestic Production Activities Deduction, also known as the Section 199 deduction, means farmers may end up paying more taxes.   ...

More than 180 agricultural groups are coming together to support the Section 199 tax deduction not included in the tax reform proposal.  The groups, led by the National Council of Farmer Cooperatives, penned a letter to House Speaker Paul Ryan and Minority Leader Nancy Pelosi opposing the effective repeal of Section 199.  By not ...