As part of the 2017 tax reform bill, Congress passed new Section 199A, which authorizes a deduction for “specified agricultural or horticultural cooperatives.” As discussed in a subsequent post, Congress enacted Section 199A(g) to limit the 199A deduction …
Agricultural Cooperatives
Farm Credit Administration Guidance on PPP for Small Businesses
The Farm Credit Administration has issued an updated informational memorandum for the purposes of providing Farm Credit System institutions with updated guidance on the Paycheck Protection Program. Follow this link for the memorandum:
The memorandum explains,
…Does the
USDA Reports on Farm Supplies Sold by Co-ops
The USDA Rural Development Division and Cooperative Services Branch of the US Department of Agriculture reported that in 2019 co-ops sold $53.2 billion in farm supplies including $18.9 billion in petroleum and energy products (36% of total net farm supplies …
Join the USDA Webinar for National Cooperative Month!
October is National Cooperative Month. The USDA is holding a webinar about the resources available to support cooperative development in rural America, including updates on cooperative development resources, an overview of RD funding opportunities, and information on ownership conversions. To …
Happy Cooperative Month from AHC!
October is Cooperative Month. AHC represents many cooperatives in the telecom, electric, and agricultural industries. So we join with others in celebrating our cooperative clients.
In honor of Cooperative Month, the U.S.D.A. has provided and re-published the following helpful guides
Coronavirus and Contract Obligations
By AHC Attorney Merry Luong
The Coronavirus (COVID-19) pandemic has caused a global disruption to businesses, causing many to temporarily close and lay off employees. As businesses assess the short– and long–term economic impact of COVID-19, …
Court Addresses Agricultural Cooperative Bank Liability to Potential Borrower
On October 30, 2019, the Georgia Court of Appeals vacated, reversed, and remanded the denial of a cooperative bank‘s summary judgment motion on fiduciary duty and other claims from prospective borrowers in AgSouth Farm …
IRS Issues Proposed Regulations for Cooperatives Under New Section 199A
The IRS issued proposed regulations to provide cooperatives and patrons guidance under New Section 199A, which was enacted as part of the tax reform act, Public Law 115-97 (the “Act”). See our prior blog posts about New Section 199A:
…Tax Reform Act Impacts Cooperatives, Part V: New Developments for Cooperatives Under Section 199A
Over the past year, we have been posting on the tax bill passed on December 22, 2017, as Public Law 115-97 (the “Original Act”). The Original Act substantially amended the Internal Revenue Code including provisions that directly impact cooperatives. Prior …