Registration is Open!
We have an exciting fall planned, including our September 8-9, 2016, September Seminars: Navigating Changing Times and our 43rd Annual Federal Income Tax Schools offered in eight locations across Iowa. Registration is now underway for both events. We hope you'll join us!
Our September Seminar offers one day devoted entirely to agricultural law issues and a second day devoted entirely to agricultural tax issues. Our annual tax schools offer two days of intensive training to prepare you for the 2017 tax season. Topics, speakers, and schedules are available here.
Don't forget that we are also offering a number of helpful tax webinars this summer and fall. Check out the schedule for a topic that will be useful to you. We'll also be offering our 3rd Annual Iowa Taxpayer Advocate Webinar on July 27th. Justin Axelrod will be joining us to listen to your concerns and suggestions concerning the current IRS.
What's New on TaxPlace?
Check out the new material on TaxPlace:
June 28, 2016 Webinar Replay: Reconstruction of Records for Non-Filers
June 23, 2016 Webinar Replay: Getting Your Client Right with IRS
June 22, 2016 The Scoop - June 22, 2016
June 21, 2016 Webinar Replay: Let's Talk Dependents
June 17, 2016 Applicable Federal Rates (AFRs): July 2016
June 1, 2016 Webinar Replay - Cancellation of Debt
We have also posted a number of TaxBytes, available to all, without a subsciption.
As of 2012, Iowa had 88,637 farms. Of those, 40 percent were farmed under a cash rent lease, and 7.1 percent were farmed pursuant to a crop share lease. Given these numbers, it is crucial that Iowa landowners and producers understand the legal implications and requirements of their farmland leases.
A lease is a contract under which a right to use and occupy real property is conveyed. A farm lease is a binding legal contract, whether or not that lease is reduced to writing. To ward off disputes over agreed-upon terms, it is very important that those terms be put into writing, signed by both parties. The writing should be definite and certain and should include all of the terms the parties wish to enforce. The parties to the lease should not execute side agreements or additional promises separate and apart from the written lease. These agreements are difficult to prove and can lead to expensive litigation. Likewise, if parties choose to modify their lease, they should always record those modifications in writing.
To continue reading or to print this comprehensive fact sheet, please click here.
On June 21, 2016, the FAA issued its long-awaited final rule, 14 CFR part 107 (Part 107), for integrating small unmanned aircraft systems (UAS) into the U.S. airspace.[i] Part 107, which changed little from the proposed rule issued in February of 2015, paves the way for the widespread use of small commercial unmanned aircraft. The new rule, which will be effective August 29, 2016, is good news for agriculture.
In the FAA Modernization and Reform Act of 2012 (Public Law 112-95, Sec 336), Congress directed the FAA to develop and submit a comprehensive plan to safely accelerate the integration of unmanned aircraft into the national airspace by September 2015. Part 107, while a year late, accomplishes this directive.
Part 107 was needed because under current law, any aircraft not meeting the definition of “model aircraft” must be registered, granted an airworthiness certificate, flown by a licensed pilot, and given operational approval. These regulations applied to small unmanned aircraft flown for commercial purposes, essentially prohibiting their use. In early 2015, FAA did begin streamlining a special exemption process to allow some commercial UAS to begin flying. The Section 333 exemption process (authorized under the FAA Modernization and Reform Act) allowed for the granting of special permission for applicants to commercially fly small UAS on a case-by-case basis.
Continue reading here.
Barring unexpected immediate Congressional action, Vermont Act 120, the nation’s first mandatory GMO labeling law, will go into effect tomorrow. What does this mean for the rest of the nation? Most likely it means that we will have federal GMO labeling legislation in place by at least year-end .
The new Vermont law requires all food produced from “an organism in which genetic material has been changed” to be labeled. If that food is sold by a retailer, an “easily found” label must state, “Produced entirely or in part by genetic engineering,” as the case may be. The law excludes food sold by restaurants, as well as alcoholic beverages, meat, milk, and eggs, as long as those foods are not combined with other genetically-engineered (GE) ingredients. The law requires GE labeling for raw agricultural commodities, as well as processed foods where the GE material comprises more than .9 percent of the total weight of the food.
Continue reading here.
Donate to CALT
As you know, our work at the Center is dependent on the fees generated by seminar registrations and gifts. If you would like to donate to further the Center's efforts, please contact our Program Administrator, Tiffany Kayser at firstname.lastname@example.org or (515) 294-5217. You can also give online with a credit card. We thank you for your generous support.
New From the Court This Month
The Iowa Court of Appeals issued several opinions this month of interest to those involved in agriculture. Below is a quck review:
On June 15, the Iowa Court of Appeals—while denying a minority owner’s request to have his family LLC dissolved—breathed life back into his quest to receive “fair value” for his 27% ownership interest. The court reversed a trial court order that had directed the brother to transfer his interest in the LLC to the other two owners for no consideration.
To read a summary of this opinion, click here.
No, the Des Moines Water Works lawsuit has not been settled! Rather, the Iowa Court of Appeals on Jun 30 issued an opinion interpreting a section of Iowa drainage law and determining that it imposes no legal duties on a county board of supervisors.
To read a summary of the opinion, click here.
When a court orders a farm lease to continue in light of a contentious relationship, additional litigation is likely to ensue. And that's just what happened in a case decided by the Iowa Court of Appeals on June 30.
To read a summary of this case, click here.
The Center for Agricultural Law and Taxation does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. The Center's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.