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Source: AGWEB, 1/11/18
A provision in last month’s U.S. tax overhaul that gives farmers the opportunity to significantly minimize their taxable income is drawing fire from some companies who could lose out as a result, while two Senators behind the change pledged to fix the problem. The measure in question gives farmers a bigger deduction if they sell crops to agricultural co-operatives. That appears to be a win for farmer-owned agribusinesses such as CHS Inc. at the expense of other major crop buyers like Archer Daniels Midland Co., Bunge Ltd. and Cargill Inc. For more of this story, click here.
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