Thanks to provisions in the “Big, Beautiful Bill,” base acres are set to increase for farmers starting next year, with the maximum national increase limited to 30 million acres. Farm CPA and RFD-TV Tax Expert Paul Neiffer joined us on Thursday’s Market Day Report for a closer look.
In his interview with RFD-TV’s own Suzanne Alexander, Neifer provides details on the increase in base acres, how it varies state-by-state, and which states could see the most significant increases. He also explains how this will affect ARC and PLC payments, and provides other business planning tips for farmers and ranchers to prepare for this change.
Base acres represent a fixed, historical allocation of specific commodity crop acres for a farm, specifically designated for use within the programs administered by the USDA’s Farm Service Agency (FSA). It’s important to note that these base acres are not contingent upon a farm’s current planting decisions; they are established retrospectively.
The determination of a farm’s eligibility for various government support programs, such as the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) initiatives, is fundamentally based on the established base acres. These government programs provide financial assistance, with payments calculated based on a farm’s historical production records, rather than any current season’s yields.
Today’s blog post by RFD-TV Agri-Legal Expert Roger McEowen takes a look at the “preferential payment rule,” a unique bankruptcy provision that can come as a suprise to farmers in financial distress.
October 13, 2023 10:54 AM
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The meaning of a “double-fraction” clause and the impact on future oil and gas conveyances—that is the topic of today’s blog post by RFD-TV Agril-Legal expert Roger McEowen.
October 13, 2023 03:28 AM
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In today’s blog post by RFD-TV agri-legal expert Roger A. McEowen tackles the task of building a solid hunting use agreement.
October 12, 2023 03:39 PM
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Acquiring farm or ranch land, as well as the key concepts and issues are the topics of today’s blog post by RFD-TV Agri-legal Expert Roger McEowen.
October 12, 2023 03:01 PM
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October 11, 2023 02:31 PM
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October 09, 2023 03:30 PM
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October 06, 2023 01:52 PM
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With 2023 projected to be a difficult year for agricultural producers, Chapter 12 filings may increase. One of the requirements to get a Chapter 12 reorganization plan approved is that be filed in “good faith.” In this blog post, RFD-TV Legal Contributor Roger A. McEowen explains exactly what farmers need to know about the process.
October 04, 2023 02:57 PM
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The failure of a grain elevator can cause large problems for farmers and for the local community it serves. A farmer who knows their rights and where they stand if an elevator fails can be in a better position than those farmers who aren’t as well informed. That is the topic of today’s blog post by RFD-TV Legal Contributor Roger A. McEowen.
October 04, 2023 02:46 PM
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