OMAHA, NEB. (RFD NEWS) — A recent U.S. Tax Court ruling confirms that innovations in livestock production do qualify for the Research and Development (R&D) Tax Credit, opening the door for more producers to take advantage of the long-standing incentive.
U.S. Secretary of Agriculture under President George W. Bush and former Nebraska lawmaker Mike Johanns, who now serves as Alliant’s Chairman of Agriculture, joined us on Friday’s Market Day Report to discuss what he has described as a watershed moment for agriculture.
In his interview with RFD NEWS, Johanns explains how the ruling applies to livestock production, common practices that may qualify for the R&D credit, what producers should know about eligibility, and whether it extends across the industry.
Johanns also outlines the potential benefits for livestock producers, including the types of benefits they could receive by claiming the credit. He also addresses whether the incentive can be redeemed this tax season, how farmers can claim it, and offers advice for farmers and agribusinesses, livestock or otherwise, as they consider pursuing the R&D credit.
Before wrapping up, Johanns reflects on the current state of the agricultural economy and shares what he views as key issues across the agriculture industry today. in the industry today.
The President’s trip to Asia this week follows a trade mission by the Iowa Soybean Association. Farmers say they were reminded that U.S. soybeans have an international reputation that can be easy to take for granted here at home.
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She saw him play besides greats like Dolly Parton, Bob Dylan, Conway Twitty, and more.
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Farmers display a unique optimism — planting with the expectation that weather, basis, and prices will improve by harvest — asserting that the profession is an identity, not just a job.
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