Source: CORN AND SOYBEAN DIGEST, 12/28/11

What will your income tax liability be for 2011? If you are a grain farmer, it may be substantial because of high volume for 2010 crops sold in the high-price period of 2011. If you were adversely affected by weather or a livestock producer, your income may have been lower in 2011 and your tax liability may not be as high.

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