{"id":8652,"date":"2024-04-18T04:00:40","date_gmt":"2024-04-18T01:00:40","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=8652"},"modified":"2024-04-18T04:00:40","modified_gmt":"2024-04-18T01:00:40","slug":"mid-south-conference-updates-on-ag-tax-and-the-corporate-transparency-act-stuttgart-daily-leader","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=8652","title":{"rendered":"Mid-South Conference: Updates on ag tax and the Corporate Transparency Act | Stuttgart Daily Leader"},"content":{"rendered":"<figure class=\"alignright size-full\"><figcaption class=\"wp-element-caption\">Kristine Tidgren, director of the Center for Agricultural Law and Taxation at Iowa State University, will discuss the Corporate Transparency Act at the 11th Annual Mid-South Ag and Environmental Law Conference. (Image courtesy Kristine Tidgren)<\/figcaption><\/figure>\n<p>FAYETTEVILLE, Ark. \u2014 When Benjamin Franklin wrote \u201cnothing can be said to be certain, except death and taxes,\u201d he had no inkling of the unpredictable life of the Corporate Transparency Act.CTA was made law in 2021, placing new requirements to report beneficial owners of businesses, including those in agriculture. CTA came with teeth too, including the potential for criminal penalties for non-compliance for registered business entities such as LLCs and corporations.Though it went into effect at the beginning of 2024, the people most affected by it seemed largely unaware of the law. Then, on March 1, CTA was declared unconstitutional by a federal district court in Alabama.However, it\u2019s not the end of the road for this law. Kristine Tidgren, director of the\u00a0Center for Agricultural Law and Taxation\u00a0at Iowa State University, will present \u201c2024 and Beyond: Ag Tax Update and the Corporate Transparency Act,\u201d as part of the 11<sup>th<\/sup>\u00a0Annual Mid-South Agricultural and Environmental Law Conference.Tidgren\u2019s session will take place June 7 at the\u00a0University of Memphis Cecil C. Humphreys School of Law. Registration for the conference is\u00a0online, and a livestream option is also available.Tidgren has provided extensive outreach to producers, landowners, tax professionals and others on the CTA.\u201cOur experience has been that many of the folks we present to have not heard of the CTA,\u201d Tidgren said. \u201cThese are people who may very well be subject to the reporting requirements, such as farmers and small business owners. So, I\u2019m very much looking forward to providing the very latest on the CTA as well as ag tax at the 11<sup>th<\/sup>\u00a0Annual Mid-South conference.\u201d<\/p>\n<h2 class=\"wp-block-heading\">What happens next?<\/h2>\n<p>In the wake of the federal district court\u2019s ruling, the Justice Department filed a notice for appeal on March 11 that will go to the 11<sup>th<\/sup>\u00a0Circuit Court of Appeals.\u201cWe\u2019ll have to wait and see how things shake out in the aftermath of the federal court\u2019s ruling,\u201d Tidgren said. \u201cThe outcome of the appeal remains to be seen, but since the current ruling does not apply to most businesses, it\u2019s an issue to be on top of through 2024 and into 2025.\u201dRecent updates regarding agricultural taxes will also have a considerable impact when it comes to estate and business planning in the agricultural sector.\u201cAs we head into 2025, it\u2019s important to take stock of where we are and where we\u2019re likely headed with respect to laws impacting ag tax,\u201d NALC Director Harrison Pittman said. \u201cAdditionally, it\u2019s very important that attorneys, CPAs, agribusinesses and others who work with producers know the very latest about the Corporate Transparency Act, or CTA. The CTA is intended to apply broadly across the economy but is one of the most important developments for agriculture in 2024.\u201cKristine is a nationally recognized and respected expert on ag tax as well as the CTA,\u201d Pittman said. \u201cShe and her team have been outstanding partners to the NALC, and we are really excited that attendees will have the opportunity to hear directly from her.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kristine Tidgren, director of the Center for Agricultural Law and Taxation at Iowa State University, will discuss the Corporate Transparency Act at the 11th Annual Mid-South Ag and Environmental Law Conference.<\/p>\n","protected":false},"author":6,"featured_media":8653,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[2705,6919,764,663,1972,4940,186,3601,1776,2542,3780,5099,932,581,2692,4985,26,407,582,5679,5722,6121,2946,4620,6918,6790,470,433,89,6056,1065,4738,1183,618,1571,6305],"class_list":["post-8652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-agricultural-sector","tag-agricultural-taxes","tag-agriculture","tag-alabama","tag-appeal","tag-attendees","tag-business","tag-business-owners","tag-compliance","tag-conference","tag-corporate-transparency-act","tag-corporations","tag-court","tag-court-of-appeals","tag-death","tag-developments","tag-economy","tag-farmers","tag-justice","tag-law","tag-non-compliance","tag-opportunity","tag-penalties","tag-report","tag-reporting-requirements","tag-respect","tag-road","tag-school","tag-small-business","tag-small-business-owners","tag-tax","tag-taxation","tag-taxes","tag-top","tag-transparency","tag-who"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mid-South Conference: Updates on ag tax and the Corporate Transparency Act | Stuttgart Daily Leader<\/title>\n<meta name=\"description\" content=\"Corporate Transparency Act. 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