Local

Ag Law Center Director Says Taxes In Obama Care

The Affordable Care Act health law has several hidden taxes in it that may impact farmers and ranchers.   Iowa State University Center for Ag Law Director Roger Mceowen says the law is really a tax bill cloaked in health care language. He says two of the major taxes impacting producers for 2013 are sur-taxes.

The Affordable Care Act health law has several hidden taxes it that may impact farmers and ranchers.   Iowa State University Center for Ag Law Director Roger Mceowen says the law is really a tax bill cloaked in health care language. He says two of the major taxes impacting producers for 2013 are sur-taxes.

He advises farmers and ranchers to talk to their tax practitioners about ways to avoid the 3.8 percent tax on passive income.  McEowen says another tax that goes into effect July 31 is an excise tax which is a fee on self insurance plans.

McEowen says that excise tax is paid by using form 720. It covers spousal reimbursement plans that producers have utilized in the past. He says producers having any questions need to work closely with their tax advisors

He advises farmers and ranchers to talk to their tax practitioners about ways to avoid the 3.8 percent tax on passive income.  McEowen says another tax that goes into effect July 31 is an excise tax which is a fee on self insurance plans.

McEowen says that excise tax is paid by using form 720. It covers spousal reimbursement plans that producers have utilized in the past. He says producers having any questions need to work closely with their tax advisors

Recent Headlines

in Local

SD Prison Inmate Missing

Fresh
walkaway 40115

A prison inmate from the Yankton unit has not returned.

in Local

Yankton Initiative To Offer $10,000 For Next Big Idea

IMG_0699

A new group called “Onward Yankton” has been teasing what they have been calling a new initiative for the community.

in Local

Sediment In Lake An Issue

missouri river sign

The amount of sediment flowing into Lewis and Clark Lake from the Niobrara River have groups struggling to find a solution.

in Agriculture

National Farmers Union Calls on Congress to Uphold COOL Funding

COOL

National Farmers Union President Roger Johnson is calling on members of Congress not to attach additional clauses to appropriations bills.

in Agriculture

National Biodiesel Board Concerned Over Approval of Argentinian Imports

Biodiesel Logo

National Biodiesel Board leaders are calling on EPA to reconsider their recent decision allowing Argentinian biodiesel imports into the United States under the Renewable Fuel Standard.