Agriculture Tax

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Senator Stabenow Introduces Legislation To Provide Tax Credits For Renewable Chemical Production

On November 10, 2015, Senator Stabenow (D-MI), along with Senators Coons (D-DE) and Franken (D-MN), introduced S. 2271, the Renewable Chemicals Act of 2015 to the Senate. If passed, the bill would amend the Internal Revenue...more

NC Legislative Update for October 2015

This Week - The North Carolina General Assembly has finally ADJOURNED! And they did so just after 4:00 in the morning on Wednesday September 30th, 2015. The close of the nine-month long 2015 session was met with a round...more

NC Legislative Update for September 2015 #3

This Week - After passing the State’s biennial budget into law last week, the legislature turned its focus towards adjournment. The Senate unveiled an adjournment resolution which would adjourn the session on Tuesday,...more

New York Case Highlights Sales Tax Pitfalls for Boarding Operations

Commercial horse boarders and breeders enjoy a fairly broad set of sales and use tax exemptions in New York State. Exemptions covering most of the operation’s purchases are designed to parallel the tax breaks given to farming...more

New Obligations for Foreign Investors in Agricultural Land in Australia

The Australian Government has demonstrated its commitment to create greater transparency around foreign investment in agricultural land by introducing a national Foreign Ownership of Agricultural Land Register (Register)....more

Special Session: Signed, Sealed and Delivered

The illusive Special Session lived up to its hype. Despite the close proximity of the two temporary chambers in the State Office Building, the bodies were far apart in their desired outcome for the session. After...more

Tentative 2014 Cook County Equalization Factor Released

The Illinois Department of Revenue has released the tentative 2014 Cook County equalization factor. The preliminary factor is 2.6922. Prior year equalization factors are summarized...more

New York Amends Agriculture and Markets Law To Provide Real Property Exemption For Silvopasture

For the first time, New York will classify silvopasture as agricultural land for the purpose of real property tax exemptions. This new classification could result in substantial tax savings for any livestock owner that uses...more

Congressional Proposals for Nonprofit Tax Breaks and Extenders

In February, the House of Representatives passed several tax bills and the Senate Finance Committee approved several tax bills that, if ultimately enacted, would impact tax-exempt organizations....more

Feedlot Health Management Services Ltd v The Queen, 2015 TCC 32 - The Tax Court Considers Fundamental SR&ED Principles

Bennett Jones LLP represented Feedlot Health Management Services Ltd. (FHMS) in the recent Tax Court of Canada proceeding, Feedlot Health Management Services Ltd v The Queen (2015 TCC 32). The case concerned certain...more

Tax Reform and the Timber Industry

This alert provides an overview of various timber tax issues in play as part of the tax reform debate. The alert is drawn from several sources, including former House Ways and Means Committee Chairman David Camp’s tax reform...more

2/15: Nothing in Life is Certain but Death and Tax Extenders: The Corporate Tax Provisions of H.R. 5771

When Congress met at the end of last year, the primary objective for the meeting was clear - to prevent taxes from slowing the recovery that the economy has enjoyed for the last several years. ...more

2015 Washington Outlook

In this issue: - Congressional Outlook - Senate Committees - House Committees - Excerpt from Congressional Outlook: Deadlines, Expirations, and Important Dates in 2015 - As the 114th...more

End of 2014 Tax Law Changes

ABLE Accounts: A new law titled “Achieving a Better Life Experience” (ABLE) allows the establishment of tax-free accounts that can be used to save for disability-related expenses. ABLE accounts can be created by individuals...more

South Carolina Legislative Update

The House and Senate were busy this week with numerous subcommittee and committee meetings – ethics reform, surface water withdrawal, Pollution Control Act/DHEC Board review, and budget deliberations were a few of the items...more

Improving Australian Agricultural Competitiveness

The Commonwealth Government has released its Green Paper exploring a range of policy options to expand the competitiveness of the Australian agriculture sector and its share of the global market. The Green Paper serves...more

Australia and China Free Trade Agreement

This week, following the successful hosting of the G20 summit, the Australian Federal Government signed a declaration of intention with China to bring into force a China-Australia Free Trade Agreement (ChAFTA). The agreement...more

Colombia Seeks Foreign Investment to Expand Timberland Plantations

Colombia plans to double its cultivated acreage from one million to two million hectares by 2020, according to Rubén Darío Lizarralde, the country’s Minister of Agriculture and Rural Development. Lizarralde announced the...more

N.C. General Assembly Is Back In Session: Local Government Powers Are In the Spotlight

The North Carolina General Assembly has returned to Raleigh for its "short session", and the legislative bodies are already off to the races with proposed legislation affecting land use controls and local government powers in...more

Tax And Business Planning For Farmers To Avoid Higher Taxes And Loss Of Subsidies

The Agricultural Act of 2014 (aka - the 2014 Farm Bill) has been controversial, to say the least. Among its many changes are an $8 billion cut to the “food stamp” program. The Farm Bill also drastically modifies or ends...more

The Womble Carlyle Economic Development Digest - March 2014

Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States. ...more

GST: Changes For Going Concern And Farm Land Sales

GST: GOVERNMENT ANNOUNCES "REVERSE CHARGE" RULES FOR THE SALE OF BUSINESSES AND FARM LAND - The GST Act presently provides an exemption for the sale of a "going concern" or for the sale of "farm land". Where the...more

McAfee & Taft AgLINC - Fall 2013: Syndication: A viable option for ownership of breeding stock

The syndication of stallions rose in popularity several years ago as a result of available tax benefits and the practical benefit of common ownership of a valuable animal used for breeding. While most of the tax benefits from...more

Urban Renewal Once Again on Legislative Agenda

While January 8, 2014, the date on which the General Assembly convenes, is still several months away, legislators are already working on the bills they plan to introduce in this legislative session. As has been the case...more

Housing Market Largely Escapes Damage From Government Shutdown, For Now

The federal government shut down at the stroke of midnight on September 30th as the Congress failed to pass a bill to continue funding the government. The repercussions are many, including preventing 800,000 Americans from...more

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