Grain elevators desperate for tax bill fix
Key senators are scrambling to rework a benefit for farmer cooperatives that was created by the new tax law, and the fix couldn’t come soon enough for owners of private elevators like Doug Bell. The co-op provision was meant to replace the cooperatives’ Section 199 deduction that the law repealed, but tax experts say that the new deduction is so lucrative that farmers will have a strong incentive to sell to a co-op rather than a privately owned or publicly held grain buyer. [node:read-more:link]