Effective January 12, 2021, the Small Business Administration and the Department of the Treasury issued an Interim Final Rule concerning the Paycheck Protection Program (“PPP”). … Read More »Telephone and Electric Coops Qualify for PPP Round 2
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… Read More »IRS Issues Sec. 199A Guidance for W-2 Limitation
In a new ruling, the Service considered the period of historical patronage business that should be used to calculate the gain on a liquidation sale. Coop was a… Read More »New IRS Ruling: The Timing of Patronage Business for Allocations
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… Read More »Farm Credit Administration Guidance on PPP for Small Businesses
The IRS has provided guidance on how exempt taxpayers, like Section 501(c)(12) cooperatives, can claim a refund after the repealed provisions concerning qualified transportation fringes. You can visit the… Read More »Section 501(c)(12) qualified transportation fringes
Perhaps the most impactful aspect of the recent tax reform law is the change to the treatment of governmental grants. Many cooperatives qualify for governmental… Read More »Tax Reform Act Impacts Cooperatives, Part IV: Impact on Governmental Grants
One of the initial questions for a group forming a cooperative in Georgia is whether the cooperative should be legally organized in Georgia or in… Read More »Where Should We Organize Our Cooperative?
Many cooperatives provide a range of services to their members. Sometimes these services are provided through subsidiaries. Each cooperative must choose the right mix of… Read More »Cooperative-Subsidiary Consolidation Issues