North Carolina provides the country with a wide variety of products, including row crops, vegetables, poultry, aquaculture, livestock, horses, tobacco, hay and timber. Today’s farms, cotton gins, seed, fertilizer, chemical and commodity dealers are sophisticated businesses subject to federal and state regulatory, income tax and financial reporting guidelines. At PPC, we understand agribusiness taxes and other regulations and can help you anticipate and address any issues that arise.
- Assistance with conservation easement decisions;
- Accurate bookkeeping and accounting software support, including QuickBooks®, to generate accurate financial statements to help you make sound management decisions and improve cash flow;
- Proactive tax planning, maximizing asset deductions, prepayment and carryover options and assistance with like-kind exchanges;
- Assurance services to help you receive more favorable terms with banks and comply with USDA bonding;
- Recommendations for the most beneficial entity structure and fiscal year end (corporations, LLCs and partnerships);
- Confidence that your land and assets are protected for future generations;
- Assistance with farm payroll and contract labor tax filings, including foreign H-2A workers; and
- Monitoring of changing tax laws and farm bills, including domestic production deductions, property tax credits, no-till equipment credits and USDA payment limitations.
PPC’s professionals have extensive experience with hundreds of agribusiness clients throughout North Carolina. Our agribusiness team includes the following shareholders: Lowell G. Taylor, Travis J. Hill, Jeffery D. Best and Delmas B. Cumbee, Jr.