Minding Ag's Business
Marcia Zarley Taylor DTN Executive Editor

Thursday 10/24/13

When You Are Your Brother's Keeper
Off-farm heirs need fair rent if they jointly own your farmland and decent buyout prices when they exit farm ownership, courts and business counselors say.[Read Full Blog Post]
Posted at 10:39AM CDT 10/24/13 by Marcia Zarley Taylor | Post a Comment
Comments (1)
Correction: Actually the double taxation for C Corp shareholders is slightly worse than 35% plus 20%. We forgot to add the new 3.8% surcharge on investment income, so the combined damages would be 35% corporate tax, plus 23.8% for the individual. Net result is you'd take home less than HALF of any farmland appreciation in a C Corp, BEFORE state income taxes. If you need ideas on how to unwind a C Corp, see Elizabeth Williams' excellent article "Avoid the Land Trap" in the November issue of The Progressive Farmer magazine and/or join us in Chicago!
Posted by Marcia Taylor at 11:02AM CDT 10/25/13
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