Modern farming is a business, and it is extremely common to see even small operations owning farmland in a partnership, LLC, corporation or trust. Even so, Minnesota law restricts the ownership of agricultural real estate by business entities and trusts.
Who Can Own Minnesota Farmland?
Minnesota’s ...Read More
Almost every area of finance and business has dramatically changed as a result of the digital revolution. Notarization has not been among them. If a document needed a notarized signature, it required an in-person meeting with a notary public present where the notary watches ...Read More
Notes On Bank M&A Trends And Considerations
We’ve come a long way from the dark days following the “Great Recession.” Overall economic growth has been steady if not spectacular. Interest rates have been held at historic lows, but are finally starting to rise. Tax reform ...Read More
What is a document retention policy?
A document retention policy is a plan outlining (1) what sorts of documents the operation will keep, (2) how they will be stored, and (3) how and when they will be destroyed.
Why is a document retention policy important?
Documents can ...Read More
The Tax Cuts and Jobs Act (the “Act”) made effective on December 22, 2017 repealed the old section 199 of the Internal Revenue Code of 1986 (the “Code”) which used to provide for an income tax deduction equal to approximately 9 percent of the ...Read More
The Tax Cuts and Job Act of 2017 is the most dramatic change to the U.S. Tax Code since 1986. This wide-reaching, complex tax reform passed in such a hurry at the end of 2017 that many business owners, including farmers, are still trying ...Read More