In a previous Tax Talks blog article, we talked about energy credits. An energy credit not discussed is the Production Tax Credit (PTC) under Internal Revenue Code (IRC) section 45Z. This credit incentivizes the domestic production of sustainable transportation fuels, such as those that may be generated by an on-farm biomass digester, offering a per gallon tax credit for qualified fuels produced by the taxpayer and sold to an unrelated person.
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In December 2023, we shared to important Tax Talks blog articles on the New York Employer Overtime Credit. The time to apply for an advance of the credit is fast approaching with NYS Ag and Markets opening the application on July 1, 2024.
July 2, 2024
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Hail can be a true catastrophe for agricultural businesses. The damage caused by hailstones can destroy a portion of a crop and result in significant financial losses for farmers. Crop-hail insurance is an essential tool for managing this risk.
May 09, 2023
LGM is a livestock product that protects producers from declining product prices and increasing feed costs. There are separate programs for dairy, beef cattle and swine, but the program works relatively the same for each.
April 10, 2023
Risk management is the name of the game. If you know your Cost of Production (COP), your risk management strategy can set you up to preserve three things: liquidity, equity for future investments and equity for retirement.
February 06, 2023
Onions are a specialized high-value crop, so it is essential to understand their insurance policy. Onions fall under the Multi-Peril Crop Insurance Approved Production History policy. In other words, anything Mother Nature throws at the crop is covered. Is your crop covered?
January 09, 2023