A new dairy insurance service from American Farm Bureau Insurance Services will bring an extra level of support to a dairy sector that has been battered by losses over the past four years.AFBIS’ Dairy Revenue Protection insurance policy, available by early October, covers potential revenue loss over five quarterly insurance periods.The insurance product was developed by American Farm Bureau Federation Chief Economist John Newton in partnership with AFBIS and economists from the University of Minnesota and Cornell University. It fills a demand not met by previous products.
By November 1, 2018 a landowner must complete Form CU-313 These forms are specific to enrolled parcels and mailed to landowners the first week of August There is no generic form, so it is important to look for mail from the Vermont Tax Department. . The Vermont Tax Department does not require a certification for new enrollments received by the September 1 deadline. For more information about annual certification click on more info.
Buy, lease or hold the old? The changes in tax law will impact decisions you as a farm operator make over the next several years. These decisions may center around farm equipment, livestock and other assets that depreciate. The new law revised the rules around depreciation and it will allow full and immediate expensing for purchases over the next several years. The new law, however, ended like-kind exchanges (the replacing of a depreciating asset without paying the taxes on the new item) and that can affect the way you approach your personal property, such as equipment and livestock and the taxation of these assets.
Every year members are recognized for their exemplary service to agriculture at Vermont Farm Bureau’s Annual Meeting and Conference. This year's meeting is November 2 -3 at Trader Duke's Hotel in Burlington. Categories are Vermont Century Farm, the Cornwall Award, Farm Woman of the Year Award, Young Farmer Achievement Award Farm Family of the Year Award and the Wallace award. Click on More info for detailed descriptions and application forms. Applications are due at the Farm Bureau office by October 1, 2018. Bruce Shields accepts the Wallace Award from Joe Tisbert at the 2016 Annual Meeting