Agriculture and Business Want Section 199A Deductions Permanent

(ARLINGTON, VA) The National Grain and Feed Association (NGFA) joined 102 other organizations last week to support the “Main Street Tax Certainty Act of 2019”. The legislation (HR 216), which would make permanent the Section 199A 20 percent qualified business income deduction. Led by Rep. Jason Smith (MO-R) and Rep. Henry Cuellar (TX-D) in the House and in the Senate by Sen. Steve Daines (MT-R), the bipartisan legislation would help ensure permanent tax relief for employers organized as S corporations, partnerships and sole proprietorships, as well as preserve Section 199A benefits for cooperatives and their farmer-owners. The Section 199A deduction is scheduled to sunset at the end of 2025.