Could have a Revenue Loss - Please review all production with your Agent! ____________________________________________________________________
Ray-Carroll is proud to announce that one of our local communities has made it to the finals in the Cenex Hometown Throwdown contest. Select the following link to vote for Norborne's Soybean Festival as the #1 festival around and help them win the grand prize of $100,000!
GRAIN STORAGE & DRYING: - Qualified: 8% of $ paid -Non-Qualified: 0% -Total: 8% of $ paid
INPUTS & SERVICES: - Qualified: 8% of cost -Non-Qualified: 0% -Total: 8% of cost
Checks mailed in December represent 50% of the QUALIFIED patronage dividend. You will pay taxes on the entire Qualified dividend this year. The remaining part of the Qualified dividend will be retained and paid out with all taxes paid in the future. The Non-Qualified portion will all be retained and paid out in the future. You will pay taxes on this portion in the year they are revolved. Currently Ray-Carroll has revolved equity to 2013 and plan to stay within a ten year window.
Patronage Checks Example
If you sold 100,000 bushels of grain to R-C during the 2022 crop
You will receive a check in December for $11,500 (50% of Qualified), and you will pay taxes on $23,000 this year.
The remaining $11,500 of Qualified Patronage will be retained and should be paid out within 10 years. Taxes are already paid on this amount.
Non-Qualified Patronage is all retained. Your check for $5,820 should be paid out in 10 years. At that time, you will pay the taxes on this amount.
Our plan is to pay the full $28,820 out within a ten year window barring several years of floods/droughts.
$1000/ton NH3 would be $80/ton patronage. $40/ton paid in cash & $40/ton retained
5/8/24 Corn down 9, Beans down 19, Wheat down 8 Crude Oil-81.68 down 1.79 US Dollar-105.56 up .15 Dow Jones-39,058.14 up 173.88
The momentum in grains turned south today. Funds were heavy sellers and yesterday’s heavy farmer selling also took a hit on prices. Kansas wheat acres finally got some rain which also pulled prices in the red.
