Point of View: Treasury Proposal Threatens Tax Increase on Oklahoma Farmers

Alan Woodard, The Oklahoman — Even with wheat harvest well on its way, Oklahoma’s farmers enter this crop year with a tremendous uncertainty impacting crops grown and livestock raised here. The COVID-19 pandemic has been devastating to farmers and ranchers of all crops and livestock, not to mention the ongoing trade tensions. Adding to this uncertainty are proposed regulations from the U.S. Treasury and the Internal Revenue Service that would raise taxes on thousands of farmer- owners of co-ops across the state. At a time when agriculture is reeling from the pandemic, the economic crisis, trade tensions and a half…

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