Tax Issues

ASA Positions

ASA supports legislation that will:

  • Restore the maximum amount of expensing under Section 179 of the tax code to $500,000;
  • Reinstate the expired 50% bonus depreciation level for the purchase of new capital assets, including agricultural equipment;
  • Allow farmers to continue utilizing cash-based accounting, regardless of size; and
  • Extend the biodiesel tax incentive for 2014 and beyond and shift the credit from a blenders to a producers credit.

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