Agriculture education in Illinois— a call to action for membersBy Michael MassieMay 2001Illinois has more than 75,000 farms, covering 28.1 million acres of land, and is the number one production state in the nation in soybeans, producing 400 million bushels... enough to fill 113,700 railroad box cars, forming a train that would stretch from Peoria to Boston.
Gift splitting can cost OFOBI deduction on 706By Mike DroneMay 2001The Qualified Family Owned Business Interests deduction allowed by IRC sec. 2057 is available to qualifying estates with farms or closely held businesses
Miami Tribe lawsuit continues to developBy Barbara StilleMay 2001On June 2, 2000, the Miami Tribe of Oklahoma filed suit in Federal District Court in the Southern District of Illinois against landowners in 15 separate counties, including tracts in Champaign, Clark, Coles, Crawford, Cumberland, Douglas, Edgar, Effingham, Ford, Iroquois, Jasper, Moultrie, Livingston, Shelby and Vermilion counties.
Providing credit—risk or reward?By Jeffrey A. MolletNovember 2001In today's economy, and especially for agribusinesses, providing credit to customers may be a double-edged sword. Obviously, on one edge rests the theory that the extension of credit may lead to more customers and increased revenues; the other edge is the dangerously sharp side which may lead to unpaid accounts generating collection fees and losses.
Using the Illinois landlord’s lien after June 30, 2001By Donald L. Uchtmann & D. K. BannerNovember 2001Having a financially stable tenant with a solid reputation for being an excellent farmer is among the best ways to assure that a farmland owner will collect rent.