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Tag Archives tax overhaul

Crops, Reuters

U.S. grain firms set up co-ops in tax law’s wake

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Chicago | Reuters — U.S. agricultural merchants are scrambling to register themselves as cooperatives after a blunder in the country’s new tax law gave farmers a tax break for selling grains to co-ops rather than private firms. Private crop handlers — including the “big four” merchants Archer Daniels Midland, Bunge, Cargill and Louis Dreyfus — […] Read more
Crops, Reuters

U.S. Congress near deal on tax law’s impact on grain market

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Washington | Reuters — U.S. lawmakers are close to resolving a problem with the new federal tax law that gives grain co-operatives an unintended market edge over private companies, but have had a hard time getting agreement among members of the farm sector, a Republican senator said Thursday. A provision in the Republican tax overhaul […] Read more
Crops, Reuters

Rush on to reverse U.S. tax boon for ag co-ops

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Chicago | Reuters — Republican U.S. senators are working with some of the world’s biggest agricultural merchants to undo a last-minute provision in the tax overhaul that threatens to distort the grains market and starve private firms of corn, soy and wheat supplies. It was included during final revisions of the tax bill that passed […] Read more

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