Farm Credit Merger in Florida and Georgia and Texas Court Halts Corporate Transparency Act
From the Ag Information Network, this is your Agribusiness Update.
**Farm Credit of Central Florida and Southwest Georgia Farm Credit have announced the board of directors from both associations have unanimously agreed to pursue a merger of the two organizations.
www.morningagclips.com reports over the next several months, both associations will assess merger benefits for stockholders and finalize merger agreement terms.
No office closures are anticipated, and customers can expect the same personalized service from their account teams after the merger.
www.morningagclips.com/farm-credit-of-central-fla-sw-ga-farm-credit-announce-merger/
**The USDA’s release of the 2024 Farm Sector Income Forecast shows lower income for U.S. farmers and ranchers.
House Ag Committee Chair GT Thompson and Senate Ag Committee
Ranking Member John Boozman say the income update underscores what Ag Committee Republicans have been warning about for two years.
They say from 2023 to today, row crop producers alone have lost more than $50 billion and stand to lose even more next year.
**A Texas federal court halted the implementation of the Corporate Transparency Act’s beneficial ownership reporting requirements for America’s farmers, ranchers, and agribusinesses.
The court held the CTA as likely unconstitutional, so it issued a preliminary injunction barring the government from
enforcing the Act.
Before the ruling, small businesses that met certain criteria would have to file reports with the Treasury Department by January 1st or risk fines and criminal penalties.
