The House Republican tax-reform bill would preserve interest expensing for most farms and would phase out the state tax, but some producers would lose a tax deduction that their cooperatives pass on to them. The bill also significantly expands immediate expensing and depreciation provisions that are in current law. The impact of the bill on individual farmers will vary according to their situations. Read the entire article from Agri-Pulse by clicking here.
Information from Agri-Pulse, 2017.