Updates to Section 199A
The Tax Cuts and Jobs Act of 2017 had a large impact on the agricultural industry. When the legislation was first introduced, code section 199A provided for an unprecedented tax deduction for the Ag community. In the months following its passing, our Agribusiness Team presented a number of seminars to share information regarding 199A with the local Ag community.
However, on Friday, March 23rd, 2018, Congress and President Trump passed retroactive corrections to section 199A that would drastically change its provisions and the associated tax deduction. We have included below a summary of the changes to Section 199A available for download. Please feel free to reach out to a member of our Agribusiness Team if you have questions regarding this information.
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