USDA extends deadline for recording farm structure

USDA announced the new deadline for recording farm organization structures related to “Actively Engaged in Farming” determinations is July 1.  This is a one-time only extension.  This date is used to determine the level of interest an individual holds in a legal entity for the applicable program year. 

The 2014 Farm Bill provided USDA with the direction and authority to amend the “Actively Engaged in Farming” rules related to management.  The final rule established limits on the number of individuals who can qualify as actively engaged using only management.  According to USDA, “Only one payment limit for management is allowed under the rule, with the ability to request up to two additional qualifying managers operation for large and complex operations.”  The rule does not apply to farming operations comprised entirely of family members. Also, it does not change the existing regulations related to contribution of land, capital, equipment or labor, or the existing regulations related to landowners with a risk in the crop or to spouses. The payment limit associated with Farm Service Agency farm payments is generally limited annually to $125,000 per individual or entity. 

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish