FARM BUSINESS NEWS
Minding Ag's Business
Marcia Zarley Taylor DTN Executive Editor
Tue Jun 17, 2014 02:32 PM CDT

Conservation Reserve Payment checks have been called "rent" for nearly 30 years, treated much like similar payments during the 1950s Soil Bank and free from self-employment taxes. But unless a 2013 Tax Court case is overturned by the 8th Circuit Court of Appeals later this year, non-farmers could owe whopping new 15.3% self-employment income tax on their contract proceeds. At stake is not only SE tax treatment of about a third of the acreage enrolled in the 27-million-acre CRP, but a damaging precedent that could affect conservation easements and other types of USDA-landowner contracts, legal scholars and wildlife groups maintain.

...

Quick View
  • Betting on Shorter Beans Researchers at the University of Nebraska and Purdue University have pinpointed a gene that produ...
  • Farming on the Mother Road - 5 Chris Clayton has been continuing his trip looking at the state of agriculture along historic Rou...
  • Farmers Pivot Back After Storms The majority of center pivots damaged by severe weather earlier this summer in Nebraska are up an...
  • Pick Contingency Plans - 3 As crop prices and insurance coverage swoon, farmers may need to supplement incomes with federal ...
  • Weathering the Drought Parts of the panhandle and western Oklahoma are still considered as being in extreme or exception...
  • AFBF Appeal The American Farm Bureau Federation asked a federal appeals court to reverse a lower court's Sept...
  • Pick Contingency Plans - 2 Commodity payments are largely capped at $125,000 per person. People must also report under $900,...
  • Ask the Vet What can I do to prevent the spread of facial warts in my herd?
Related News Stories
Woodbury: Farm Family Business
Klinefelter: By the Numbers
Ag Interest Rate Snapshot
Tyson to Sell Heinold Unit
US Farm Incomes Forecast to Fall
DTN Ag Business Benchmark
Rents Resist Price Relief