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New Payment Limit Rules for Family Farms, Sept. 15 Deadline
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New Payment Limit Rules for Family Farms, Sept. 15 Deadline
LUBBOCK, Texas — New U.S. Department of Agriculture (USDA) rules in place from the Working Families Tax Cuts Act (commonly known as the One Big Beautiful Bill) could multiply payment limits for family farm LLCs and S-Corps – but the paperwork is due Sept. 15. Congress’ efforts end the LLC penalty that plagued many farm families: limiting LLC and S-Corps to just one payment limit per entity – regardless of the number of actively engaged members. …
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