Congress and the administration are preparing tax reform proposals to be considered this year. In that regard, the House Agriculture Committee convened a hearing regarding the tax provisions that are most beneficial to farming operations.Based on data from 2015 that includes 99 percent of all U.S. farms, USDA’s Economic Research Service (ERS) determined that 97 percent of them, accounting for 85 percent of total production, are organized as sole proprietorships, partnerships and subchapter S corporations. This means that the actual farming enterprise is a pass-through entity for income where the tax liability falls on the farmers individually as personal income. Thus, the lowering of personal tax rates as opposed to corporate tax rates is t...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.