News

Resolution reached on 199A issue

A resolution has been reached on the Section 199A tax provision issue.

The National Council of Farmer Cooperatives (NCFC) and National Grain and Feed Association (NGFA) issued a joint statement Tuesday saying they support a fix developed by Congress and want it included in the fiscal year 2018 appropriations bill scheduled for a vote later this month.

The groups say the resolution should restore the competitive balance in the marketplace. If approved by Congress, it would be retroactive to the start of the 2018 tax year on January 1st.

The 199A provision gave farmers a financial incentive to sell to co-ops rather than privately-owned companies.