News

Tax Changes Muddy for Farmers

Tax Changes Muddy for Farmers

Photo: WNAX


Agricultural tax law attorneys are dealing with a number of new provisions that are part of new tax law. Roger McEowen is an ag law professor with the Washburn University Law School in Kansas. He says it’s been a difficult tax filing season for farmers.

He says the new provisions and rules for the 2018 tax year didn’t even come out until December of 2018. McEowen says the proposed regulations for farmers who want the Section 199a deduction for the business they do with cooperatives won’t be out until next month.

McEowen expects there to be a record number of farmers filing for tax extensions this year.

McOwen advises farmers to make sure to work with their tax practitioners in dealing with the new tax law.

Recent Headlines

4 weeks ago in Local

WHAT DOES MARIJUANA RECLASSIFICATION MEAN FOR SOUTH DAKOTA?

SIOUX FALLS, S.D. (Dakota News Now) – President Trump’s executive order to reschedule marijuana from a Schedule 1 to a…

4 weeks ago in Local

GOVERNOR RHODEN ANNOUNCES $200,000 GRANT SUPPORTING KEEP FARMERS FARMING PROGRAM

SIOUX FALLS, S.D. (Dakota News Now) – On Monday, Governor Rhoden announced a $200,000 grant from the Future Fund for…

4 weeks ago in Local

ICE’S YEAR IN SOUTH DAKOTA, FROM SMALL TOWNS TO OPERATION: PRAIRIE THUNDER

SOUTH DAKOTA (Molly Wetsch / South Dakota News Watch) – Five months after Operation: Prairie Thunder officially began, the South Dakota…

4 weeks ago in Local

SOUTH DAKOTA STATE ECONOMIST SAYS FARM ECONOMY HAS HELD BACK SALES TAX REVENUES

SIOUX FALLS, S.D. (Joshua Haiar / South Dakota Searchlight) – South Dakota’s State Economist Derek Johnson told the state Banking…

4 weeks ago in Local

STATE SPENDS $43,000 IN TROOPER OVERTIME FOR OPERATION PRAIRIE THUNDER

PIERRE, S.D. (John Hult / South Dakota Searchlight) – The South Dakota Department of Public Safety says a saturation patrol…