CENTROL Precision Ag Tech ConferenceDate: January 9, 2018
Join us for the 2018 CENTROL Tech Conference, January 9, 2018.
While Congress is still working through the details of the proposed new tax reform, Key Cooperative is aware the Section 199 Domestic Production Activities Deduction is in jeopardy of being eliminated. This will have a net negative impact on a majority of cooperative members.
The House-passed tax reform bill eliminates Section 199 entirely, and the Senate-proposed bill would do the same. Senator John Hoeven (R-ND) has agreed to offer an amendment that would preserve this measure for agricultural cooperatives.
Since its introduction in 2004, Section 199, has been a vital pass-through for cooperative member-owners and the entire agricultural community. Nationwide, the deduction returns an estimated $2 billion each year to farmers and their rural communities. (Source: Land O’Lakes, Inc.)
Member Resources & Links:
Proposed Tax Reform Framework: https://www.treasury.gov/press-center/press-releases/Documents/Tax-Framework.pdf
Des Moines Register – Nov. 16, 2017: https://www.desmoinesregister.com/story/opinion/columnists/iowa-view/2017/11/16/proposed-tax-reform-doesnt-add-up-iowa-farmers/871067001/
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