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2 — Farm & Ranch • Wednesday, October 24, 2018

California Dairy Sustainability Summit Dairymen, presenters, exhibitors and more will gather in Sacramento on Nov. 27 and 28 for the California Dairy Sustainability Summit, designed to educate, inform and support dairy farmers. Scheduled at the Sacramento Convention Center, this inaugural

‘Sustainability Summit’ will showcase the state’s world-leading achievements in sustainable dairy farm practices and the role dairy plays in the global food system; explore new ways for dairy farmers to continue improving environmental sustainability, develop new business

opportunities and reduce on-farm costs. Also, attendees will receive information, technology and services that can help their efforts to meet continuing challenges while also improving efficiency and ensuring economic and environmental sustain-

ability. Featured speakers are scheduled to include Karen Ross, Secretary, California Department of Food and Agriculture; Frank Mitloehner, PhD, a professor and air quality specialist at UC Davis; Linda Eatherton, partner, Managing Director

Global Food & Beverage, Ketchum; Bob Langert, President, Mainstreaming Sustainability, Editor at Large, GreenBiz Group; and Brian Fiscalini, CEO, Fiscalini Farms and Cheese Company. Prime areas of focus will include reducing greenhouse gases, protecting

water resources, promoting emergency conservation and clean energy, improving air quality and finding cost-effective solutions to sustain family farms. For more information or to register for the twoday event, go to cadairysummit.com.

House Votes To Make Key Tax Provisions Permanent The House recently passed a Farm Bureausupported bill that would make permanent several important tax reform provisions that are set to expire after 2025. The Protecting Family and Small Business Tax Cuts Act of 2018 (H.R. 6760) addresses bonus depreciation and the estate tax, among

other tax provisions. The Tax Cuts and Jobs Act, passed in 2017, reduced taxes for all businesses, but only the tax cuts for incorporated businesses operated as C corporations are permanent. The vast majority of farms and ranches, however, file their taxes as sole-proprietors, partner-

ships or S corporations. “Failure to (make these provisions permanent) will result in a huge tax increase. In addition, the uncertainty caused by temporary tax provisions makes the already tough business of running a farm or ranch even harder,” American Farm Bureau Federation Presi-

dent Zippy Duvall wrote in a letter urging House members to support the bill. The legislation makes permanent the following provisions that are particularly important to farm and ranch businesses: reduced passthrough tax rates and expanded brackets; the

Section 199A new 20 percent business income deduction; unlimited bonus depreciation (expensing); the doubled estate tax exemption ($11 million person/$22 million couple); the increased alternative minimum tax threshold for individuals. The Protecting Family and Small Business

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Tax Cuts Act of 2018 was passed as part of a threebill package dubbed “Tax Reform 2.0” by the House Ways and Means Committee. The other two bills, also approved by the House, are the Family Savings Act of 2018 (H.R. 6757) and the American Innovation Act of 2018 (H.R. 6756).

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