Vegetable growers in the Northeast experienced significant draught in 2020, which is continuing through 2021. Growers selling to foodservice markets had to adjust their marketing, but those selling to grocery stores or direct-to-consumer have seen good sales. Like other agricultural commodities, vegetable demand has shifted but is still strong.
Last month’s Tax Talks discussed the Employee Retention Credit’s (ERC) expansion throughout the 2021 tax year and took a look at the revenue tests for qualification. In this blog, we’ll take a closer look at IRS guidance surrounding what it means for a business to be partially shut down.
As we celebrate Earth Day, we at Farm Credit East wanted to highlight Northeast producers who have implemented environmentally friendly practices in their operations. We believe few are more committed to the health of our land, air and water than those who work farms, forests and waterways every day — and we want to share their stories!
Cash field crops had a relatively good year in 2020, with most corn and soybean yields higher than 2019 averages. Ethanol production decreased due to reduced exports and domestic gasoline demand, however production levels should increase this year.