Congress is just starting to consider changes to the federal tax code. As the process unfolds, AFBF economist Veronica Nigh says the effective tax rate is the most important factor for farmers when it comes to federal taxes.
Nigh says there are three main factors that impact farmers within the federal tax code.
Because of where the majority of farm assets are, in buildings, land, and equipment, Nigh says farmers need tax provisions that maximize cash flow.
American Farm Bureau Economist Veronica Night.
From the National Association of Farm Broadcasting News Service.