NEWS
Minding Ag's Business
Marcia Zarley Taylor DTN Executive Editor
Tue Jul 28, 2015 04:41 PM CDT

There's a lot of fine print in how USDA calculates income eligibility for farm programs under the new farm bill. Just be aware that there's no single definition of the "Adjusted Gross Income" rule that fits all individuals and business structures, as I reported from the annual American Institute of CPA agricultural meeting several weeks ago. The bottom line is that some family farmers organized as Subchapter S and limited liability business structures (LLPs, LLCs, etc.) may be shocked to learn they won't be eligible for even a single dollar beginning with the 2014 crop year payments scheduled this October, ...

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