Arkansas Farm Package

Category:
State:
Multi-State
Control #:
US-P097-PKG
Format:
Word; 
Rich Text
Instant download

Description

This package is designed to assist a farm owner in operating a farm, in matters such as employment, financial, and leasing transactions. The forms included are essential tools for promoting the farm's operation in a legally protected manner. Purchase this package and save 50% over purchasing the forms separately!



The following forms are included in this package:



Agreement to Manage Farm - This form is an agreement to manage a farm. The manager represents and acknowledges that he is an independent contractor. All persons engaged by manager to perform work pursuant to this agreement will either be independent contractors or employees of manager. This agreement is not one of agency by manager for owner, but one with manager engaged independently in the business of managing properties as an independent contractor.


Farm Hand Services Contract - This is an agreement between a farmer or employer and a farm hand whereby the employer hires the farm hand as an independent contractor to perform various farm related duties as agreed upon in the contract.


Farmer's Tax Guide - This is a free bonus publication providing detailed tax information related to farm operations.


Security Agreement with Farm Products as Collateral - In a security agreement, the debtor grants a "security interest" in the personal property in order to secure payment of the loan. Granting a security interest in personal property is the same thing as granting a lien in personal property. This form is a sample of a security agreement in farm products that may be referred to when preparing such a form for your particular state.


Farm Lease - This form is a lease agreement for farm land. The lessor will pay all ad valorem taxes assessed against the leased property. The lessee shall pay all taxes assessed against all personal property located on the premises and will also pay all privilege, excise and other taxes duly assessed. The lessee will pay the taxes when due so as to prevent the assessment of any late fees or penalties.


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How to fill out Farm Package?

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FAQ

Rice is the most important crop produced in Arkansas. In the United States, Arkansas is one of the leading producers of rice and contributes about 46 percent of the nation's supply. The other crops produced in Arkansas in large quantities are soybeans, corn, cotton, grain sorghum, and wheat.

One such definition is found in IRC Section 2032A(e)(4) relative to estate tax valuation; it reads as follows: The term ?farm? includes stock, dairy, poultry, fruit, furbearing animal, and truck farms, plantations, ranches, nurseries, ranges, greenhouses or other similar structures used primarily for the raising of ...

The quality of the land certainly affects those numbers. For this article, let's assume 150-plus corn bushel-per-acre land for about $7,500 an acre. If you bought 500 acres as a base of operations, the total land cost would be $3,750,000. The total thus far is $4,810,000.

There are 45 states in the U.S. which charge a sales tax. Each of those offer agricultural sales-tax exemptions in some capacity. Arkansas is among a group of 32 states that offer agricultural producers a sales-tax exemption on all six major categories, including machinery, fuel, chemicals, seed, animals, and feed.

USDA defines a farm as any place that produced and sold?or normally would have produced and sold?at least $1,000 of agricultural products during a given year. USDA uses acres of crops and head of livestock to determine if a place with sales less than $1,000 could normally produce and sell at least that amount.

Rice. Arkansas is the nation's largest rice-growing state, producing half the nation's rice and nearly nine billion pounds annually.

Ranches, institutional farms, experimental and research farms, and Indian Reservations are included as farms. Places with the entire acreage enrolled in the Conservation Reserve Program (CRP), Wetlands Reserve Program (WRP), and other government conservation programs are counted as farms.

The stated purpose of Ark. Code Ann. § 24101 is ?to reduce the loss to the state of its agricultural resources by limiting the circum stances under which agricultural operations may be deemed to be a nuisance.?

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Arkansas Farm Package