Beneficial Ownership Information (BOI)
Beneficial Ownership Information (BOI)
Has your farm filed a Beneficial Ownership Information (BOI) with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN)? If not, you must file before January 1st, 2025 if your business meets the following requirements is either a c-corporation, s-corporation, or limited liability company (LLC), and employs fewer than 20 employees or receives under $5 million in cash receipts. Failing to file could lead to “criminal fines up to $10,000 and additional civil penalties of up to $591 per day. Failure to file could also lead to felony charges and up to two years in prison”(American Farm Bureau Federation). Unclear guidance and lack of public outreach are now putting thousands of America’s farmers at risk of violating federal law. If you are still unsure if you need to file, contact an accountant or attorney to see whether you are required to file your business’s BOI with FinCEN.
See the original article here:
AFBF: Thousands of Farmers Could Unknowingly Face Federal Fines or Jail Time - Morning Ag Clips
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Save Some Seed!
As many of us know, large parts of the country struggled with drought in the 2023 crop season.
With the dry conditions nationwide, quality is in question regarding this year's seed stock.
In an article written by Rhonda Brooks in the AgWeb Farm Journal, many growers expressed concern about this year's seed stock supply. Ken Ferrie, a Farm Journal Field Agronomist had several farms send seed samples to be tested for quality. Ferrie expressed that “37% of the samples fall below what he would call good quality levels, and 11% fall into the poor category”.
Another concern of Ferrie’s is pericarp damage. This is when there is a tear in the seed coat at the embryo, likely making the seed more subject to salt burn from starter. Ferrie acknowledges that “seed with a high pericarp-damage score can produce a good stand, as long as you manage the risk from in-furrow fertilizer”.
From our experience, poor quality seed is also more susceptible to imbibitional chilling injury, which has resulted in poor and uneven stand emergence.
He explained that it would be beneficial to keep a small sample of seed from each lot until the crop has emerged and stand counts have been taken. Roughly 2 pounds of seed from each lot should be kept in a cool, dry place and labeled with seed variety and lot number- if possible keep a seed tag with the sample.
Hopefully, everyone will have a great stand and this sample can be discarded. If issues arise, this sample can be sent out and tested to rule out seed quality issues.
Filling out WNYCMA planting records will help scouts determine if a stand is underperforming based on planted population and the stand counts taken in the field.
If you need help filling out planting records please contact your consultant, or access training documents on the WNYCMA website in the “News” tab under “Entering Records on WNYCMA.com” OR “Entering Planting Records On Mobile Devices”.
References
Brooks, R. (2024, April 29). Ferrie: With Poor Quality A Concern, Hold Back Some Seed Corn.
AgWeb. https://www.agweb.com/news/crops/corn/ferrie-poor-quality-concern-hold-back-some-seed-corn
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