We have an incredible team of employees who bring our mission to life every day. If the owner has not participated in farming or a trade or business there is a point that those assets will no longer be considered an asset used in a trade or business. Tax rates for short-term gains are 10%, 12%, 22%, 24%, 32%, 35%, and 37% through the end of the 2025 year. [12], In February 2020, DFA agreed to buy a substantial part of Dean Foods, the largest U.S. milk producer, for $433 million. He served as vice president of the Dairylea board, sat on Dairyleas resolutions committee, and participated in the Dairylea Young Farmers program. Dean serves on the local school board and is a graduate of the LeadNY program. ?>>?>= Sweet Meadows has been named a Dairy of Distinction by the Northeast Dairy Farm Beautification Program for more than 20 years. In this role, he oversaw U.S. milk marketing across DFAs seven Areas and the global marketing and operations of DFAs Ingredient Solutions Division, as well as several other business divisions. DFA manufactures a variety of dairy products, including cheese, butter, fluid. The farm also consists of 1,800 acres of crops, a milling company, custom harvesting, custom heifer raising and manure injection businesses. Larry is a board member for American Dairy Association Mideast and Ohio Dairy Producers Association. Prior to joining DFA, Jackie spent nearly 15 years in Washington, D.C. as a congressional aide and then representing agricultural interests before Congress and regulatory agencies. Danelle manages DFAs relationships with its lenders, investors and rating agencies. Divided into seven geographic Areas, our grassroots structure ensures every member is represented through elected farmer-leaders at all levels of Cooperative governance. 0000000556 00000 n In 2010, Randy received the Missouri Dairy Hall of Honors Foundation Dairy Leader Award, and in 2011, he received the Missouri Governors Award for Agricultural Achievement. 0000004678 00000 n Jon has spent his entire career in the dairy industry with more than 30 years in dairy plant processing and sales, including working for Kroger and Hiland Dairy. Their farm houses Maines first methane digester, which produces enough electricity to power as many as 800 households and heat 300 New England homes. In his current role as chief operating officer of the Central Area, Jon is responsible for the overall business operations of the Area. The organization was renamed "Dairy Farmers of Canada" in 1942. As executive vice president of DFA and president of Dairy Brands North, Pat is responsible for the Central, Mideast and Northeast regions, as well as the divisions cheese and butter businesses and extended shelf-life groups. The Medicare portion of SE is taxed at 2.9 percent for all self-employed income even above $132,900. A part of DFAs management team since 2007, he previously served as executive vice president of DFA and president of council operations and Ingredient Solutions. With more than 16 years of experience, Angela joined DFA in 2018 as the vice president of human resources for commercial operations. John served on the Corporate Resolutions Committee for 11 years and served on the Northeast Area Council for three years. Lilah received the North Dakota Milk Producers Association Merit Award in 2014. Rabobank's annual listing of the top 20 dairy companies by revenue highlights strategic movements in one of the world's most valuable food sectors. President and Chief Executive Officer, Dairy Farmers of America. DFA Cares. Factors include the current tax brackets, the tax basis of the asset, as well as other variables. DFA also acquired Cumberland Dairy, a processor of ultra-pasteurized dairy products, in 2017. %PDF-1.3 That direct, personal connection to the farm makes each bowl of ice cream even sweeter and that's why This Mark Matters. Make sure the dairy you buy comes from Canadian farms and supports our farmers. He also has served on the National Dairy Promotion and Research Board and is a member of the Dairy MAX Western Dairy Association Promotion Board. Chris serves as vice president of the Fort Morgan Reservoir and Irrigation Company board, secretary of the Jackson Lake board, chairman of Colorado Dairy Farmers, the states political action committee, and is involved in the Morgan County Farm Bureau. He also is chairman of National Milk Producers Federation and serves on the boards of Missouri State Milk Board, Dairy Management Inc., Hiland Dairy and the Innovation Center for U.S. He currently serves on the Membership and Farm Services committee. They mean providing opportunities for rural communities to thrive, sharing nourishment to those in need and preserving natural resources for future generations. Rick, along with his wife, Carol, and sons, Greg, Marcus and Wade, milk 7,000 cows at two locations and farm 4,000 acres of corn and alfalfa near Greeley, Colo. Rick and his family also operate a 4,000-head feedlot where they finish out the steers and crossbreds from the dairy. We're always looking for new ways to bring the joys of dairy to families like yours. He has served in several farmer-leader roles in the Central Area, including on his Area Resolutions Committee and the Corporate Resolutions Committee. Keith started in the dairy business in 1981 and milks with his two sons. His responsibilities include oversight of DFAs Cooperative-owned transportation fleet, leading milk marketing activities and business operations management and management of Mountain Area Council operations. 22-Oct-2020 at 08:58 GMT, Related tags Jennifer works with her parents, brother and three full-time employees on the farm. Check out the MSU Dairy Management Program! The dairy includes 320 Holsteins and 2,000 acres of rented and owned land. [2], DFA was formed in 1998 through the merger of four dairy cooperatives: the Southern region of Associated Milk Producers Inc.; Mid-America Dairymen Inc.; Milk Marketing Inc.; and Western Dairymen Cooperative Inc.[3] Since then, five other cooperatives have become a part of DFA Independent Cooperative Milk Producers Association, Valley of Virginia Milk Producers Association, California Cooperative Creamery, Black Hills Milk Producers and Dairylea Cooperative Inc.[4][5][6][7] Its headquarters from 1998 until 2017 was near Kansas City International Airport in Kansas City, Missouri. The balance sheet will contain the assets (and debt) that each entity owns and this detail will assist in analyzing potential tax liability on the sale of any assets. He has been with DFA since 2008, serving in a variety of roles, including DFAs corporate controller, director of internal audit and senior vice president of finance. Fresh Milk He is president of The Dairy Alliance, the United Dairy Herd Improvement Association and the American Dairy Association of South Carolina. @@@@@@@@@AAAACBAA@@AABBBAAAA@AAAAAAAACCCCCCCCCCBBBBCCBBA@@@AA@@AAAABBBBBBBBBBBBBBBBBBABBCCBBAAABBBBCCCCCCCCCCDDDDDDDDDDDDDDDDCCCCCDDDCCCCCCBACCDDDDEEDDDDDDDDDDDDDDDDCCCCCCCCCCCCCCCCCCCDDEEFGGFFFFGGGGGGGGGGGGGGGGGGGGGGGGGGHHGGGGFFGGGFEEDDFFFFFFFFEEEEEEEEEEEEEEEEDDDEEDDDCCBBBBAA@@@@@@@@?>>======== ! At Dairy Farmers of America, our diverse network of family farms are located all across the country. James H. Hilker - xWLuxNzQnu)Y"!fd`D(. LA@8H&0(L4e" (fQ#[3~]?w{y{ dP vD c_labI=@]n)Uo?i4?YCGsye@$U4%Ytelnt3>Ou>V The group has represented Canadian dairy farmers since 1934. DFC members include dairy farmer organizations from all the Canadian provinces. The sale of machinery, equipment and single purpose buildings & improvements with a GDS class life of 15 years or less are covered by IRS 26 U.S. Code Sect. During times of crisiswhen schools and other meal services are shut down, the need for reliable, nutritious food is even greater. At Dairy Farmers of America, we're proud to share the simple pleasures of real dairy straight from our family farms. Larry and his family show and judge at local, state and national shows, and they farm alfalfa, corn and wheat. These animals usually carry a zero tax-basis since the cost of raising them has been already deducted as a normal farm expense if you are a cash-basis taxpayer on Form 1040 Schedule F. Late bred close-up heifers if over 24 months of age may also be included under Section 1231. DFA launches first-ever probiotics-fortified UHT milk as an affordable alternative to kefir, kombucha, Africa focus: Arlas plans for Nigerias nomadic herders, Go with your gut: Hear Danone talk biotics, gut microbiome, and dairy innovation at Positive Nutrition 2023, J&J partners with Holobiome for next-gen probiotics and prebiotics for infant & maternal immune health, Beef market outlook: Chinas reopening and US supply contraction bring opportunities. xref Website. We support each of these farms by finding a home for their milk, operating plants to process their milk, investing in new opportunities and more, all designed to bring them value. It is a member of the non-profit Canadian Federation of Agriculture. He is responsible for leading the Legal Department, which handles the legal affairs of DFA, including representation of the company and its subsidiaries and affiliates in transactions, disputes and regulatory matters, as well as providing support to all Area offices, commercial divisions, departments and plants. Alan has more than 45 years of experience in the dairy business, most of it spent in senior level management positions. DFA is America's leading dairy cooperative. The mortgagees or lien holders will have first claims on sale proceeds on the sale of the real estate. Senior Vice President and Chief Communications Officer. We will attempt to explain some of the potential tax liability issues that may arise when selling dairy farm assets as there are significant tax consequences that need to be managed. Our mark matters and it represents the wholesomeness of dairy that we share with our communities and loved ones. As of Dec. 31, 2020, DFA had not drawn on its $725 million five-year unsecured credit facility that matures in November 2024 with a $250 million accordion feature. Take a minute to discover what makes our culture so special and check out our open positions. 1405 N. 98th St. Kansas City, KS 66111 888-DFA-Milk. [4], The Dairy Farmers of Canada "Quality Milk" logo is used to help consumers identify products that contain 100% Canadian milk and Canadian dairy products. Dairy Farmers of America. Greg is a Mideast Area Legislative Committee member and an American Dairy Association Mideast board member. David, in partnership with his brother and son, milks 500 cows and grows grass and corn silage on 1,100 acres. From fresh dairy goodness like yogurt and cheese, to dairy's essential role in many of your favorite pantry staples, we support our family farms by sharing the joys of dairy in so many ways. A joint venture between Glanbia Nutritionals, Dairy Farmers of America, Inc. (DFA), and Select Milk Producers Inc., MWC was designed and built over a two-year period. EBITDA including associate dividends and capital retains increased to $558 million based on Fitch adjustments in 2021 compared to EBITDA of about $520 million in 2020. The remainder of the gain on the sale is treated as a long-term capital gain. Michigan State University Extension programs and materials are open to all without regard to race, color, national origin, gender, gender identity, religion, age, height, weight, disability, political beliefs, sexual orientation, marital status, family status or veteran status. Any farm sale is inherently complex and the topics are interrelated. The family received the Maine Dairy Farm Family of the Year Award in 2008. Dennis has an extensive background in banking and finance and has owned various ag businesses. Bill, a third-generation dairy farmer, has been dairying since 1980. Buster, his wife, Beverly, and son, Jason, operate two neighboring dairies one with 5,200 Jerseys and one with 5,500 Holsteins. Net sales in 2016 were $13.5 billion, representing about 22 percent of raw milk production in the United States. Jeff, in partnership with his wife and son, manage and make all of the feed for a herd of registered Holsteins on 300 acres. 0000015308 00000 n The Social Security portion is taxed at a rate of 12.4 percent and is not payable on self-employed income above $132,900 for the 2019 year. Edward is responsible for the overall business and profit and loss for the Beverage and Dairy Foods Division. Some farm sales can be leased back from the buyer. The farming operation includes 1,600 acres of wheat, corn and sorghum. Bryan, a second-generation dairy farmer, milks 225 cows on 500 acres on his farm in Fenwick, Mich. Bryan took over Hull Dairy Farm LLC with his wife, Janet, in 1976, and their two daughters and grandkids now help with day-to-day operations. He has been a member of the Wayne County Farm Bureau, Ohio Holstein Association, Holstein Association USA and St. Marys Church. Before that, he held the position of audit manager at Deloitte & Touche LLP, then divisional controller at Freightquote.com. By leading innovative research, providing nutritional education, and promoting healthy living, we work every day to make Canadian milk better. They raise all their replacement heifers and grow alfalfa, corn and oats. This page was last edited on 4 December 2022, at 09:02. Short-term gains are for assets held for one year or less and two years or less on breeding cattle and horses. Senior Vice President and Chief Operating Officer, Beverage and Dairy Foods. He is also responsible for financial management, reporting and budgetary oversight across the organization, identifying potential risks to the business and providing recommendations for strategies to minimize those risks. <]>> DFC's goal is to create favourable operating conditions for the Canadian dairy industry. From our family farmers and field staff to product developers and finance teams, every member of our organization plays an essential role so that together, we can share the simple pleasures of real dairy with families everywhere. This devastating downturn has led many dairy farmers to consider exiting the dairy business. Byron, along with his wife, DeDee, daughter, MeLissa, and son-in-law, Steven, farms 1,000 acres of land and milks 230 cows on Le-Dr Dairy. Milk For example, growing crops create a taxable ordinary income for the seller and deductible basis in the crop for the buyer. She currently sits on the board of The Childrens Place, a non-profit organization providing support to children and families within the Kansas City community that have experienced traumatic events. Together, they milk 2,000 cows on three different dairies and farm 1,800 acres of corn, alfalfa and wheat. In 2016, Glen was also inducted into the South Carolina Dairy Hall of Fame. Craig, along with his wife, Katharine, son, Cameron, and daughter, Cali, owns and operates a 550-cow dairy farm. Additionally, Gary serves as president of the California Creamery Operators Association. Dairy board representing Dairy Management Inc. Leroy joined his father in dairying in 1970. They also raise grain, sorghum and grass forages. 816-801-6200. . The sale proceeds can be used to pay down existing debt obligations. Modify what you plant and harvest as you wind down. . Dennis serves as president and chief executive officer. Bryan is the secretary of the Mideast Area Council and a board member of the Dairy Marketing Program Scholarship Committee at Michigan State University. He is the 2014 winner of the American Jersey Cattle Association Distinguished Service Award. Dairy Farmers of America. This accelerated amount is deemed recaptured depreciation and is taxed as short-term ordinary gain. ?>>> Glanbia Our mark matters and it represents the wholesomeness of dairy that we share with our communities and loved ones. ! Executive Vice President, Chief Administrative Officer, and Secretary. Additionally, Larkin raises chickens and peacocks. Melvin has been dairying since 1981 on the farm started by his father. All policy, marketing, nutrition and market research activities were regrouped under the newly formed organization, which retained the name "Dairy Farmers of Canada". @AAAA@BCDCBABCBBBBBBBBBBBBBBBBBBBBBCCDCCCCCCCCBBBBBBBBCCCCCCCCCCCCCDDDCCCCCCCCDDDDDDDDEEEEEEEEEEDDDDCCBBBBCDEFDDDCCCCCDDDEEEEEFFFFEEEEFFFFFFFFHHHHHHHHFFFFFFFFFFFFFFFFFFFFEEEEEEEEEEEEEEDDDDCCEEEEEEEEDDEEEEDDCCCCBBBBBBA@?>==@?>=<<<<<< !"" Perry served on the California Milk Advisory Board and as dairy chairman for the Kern County Fair. A recent initiative by the organization was to have dairy products that contained 100 percent Canadian dairy products indicated by using a specific label that states, "100% Canadian milk". College of Agriculture & Natural Resources, Department of Agricultural, Food, and Resource Economics, 1998 Childrens Online Privacy Protection Act (COPPA), department of agricultural food and resource economics. Bill is an active member of the community, coaching eighth grade basketball. funds and accumulating patronage-based capital that also qualifies for single tax treatment. Department of Justice antitrust officials announced a settlement Friday to allow Dairy Farmers of America to buy the bulk of Dean Foods Co.'s milk plants out of bankruptcy, merging the nation's . He is the vice president of Evansville Young Dairymen. Ability to select, coach, develop, engage and retain a team of employees. In her current role of senior vice president of human resources, she is responsible for leading teams within the department, including talent acquisition, talent management and HR business partners. A partial sale option can be used by selling some assets that are not critical to the core business activity(ies), especially if they are not generating income. In his current role as chief operating officer of the Western Area, Gary is responsible for the overall business operations of the Area. He has served on the Utah governors agriculture board, the Western States Dairy Producers Association since 1996 and on the Utah Dairy Association since 1994, also serving as a past president. ! Kevin farms with his wife, Lisa, and his son and daughter in law, Kyle and Ashley. >> This devastating downturn has led many dairy farmers to consider exiting the dairy business. A merger between Dairy Farmers of America and Dean Foods could impact hundreds of thousands of dairy . Since 2008, he served as senior advisor for DFA, providing oversight for varied investments and joint ventures. Must be able to pass all pre-employment screens (including drug, background and criminal checks). Reference to commercial products or trade names does not imply endorsement by MSU Extension or bias against those not mentioned. In 2017, Danelle was recognized in Ingrams magazine 40 Under Forty list. On this Wikipedia the language links are at the top of the page across from the article title. DFC scholarship fuels student to reflect on future of agri-food, Greener holidays: 5 eco-friendly gift ideas, Plastic recycling solutions with Cleanfarms. In addition, he farms more than 3,000 acres of crops on a pivot irrigation system. Chris, his wife, Mary, and son, Stratton, own and operate two Holstein dairies in Fort Morgan, Colo., where they milk 5,600 cows and farm 900 acres. The group represents dairy farmers living on over 10,000 farms across Canada. If not, the member may have 3 capital retained at a higher rate than the mem-ber who is closer to being fully invested, or be asked to make a direct cash investment to achieve parity. Brad entered the dairy industry on the processing side of the business, where he worked at Sorrento Cheese and was responsible for purchasing and milk procurement. Together, they milk about 900 cows and farm 700 acres of corn, oats and alfalfa. Farms with his wife, Holly, and son, Luke. Commissioning operations at MWC will take place over the next eight months and will see the initial 1m pounds of milk per day increase to its designed capacity of 8m pounds per day. Kevin has been in the dairy industry his entire life. Melvins youngest son manages the 550 acres of double-crop wheat and corn to supply all the dairys silage needs. |b. << . Valerie currently serves on the Dairy One board of directors, the Cornell University Cooperative Extension Nominating Committee and the Northwest New York Dairy, Livestock & Field Crops of Cornell Cooperative Extension Advisory Group. John and Nancy were awarded the Mideast Young Couple award in 1998. In 2010, Byron received the UDIA Service Award for 10 years of dedicated service. They milk on four dairies, approximately 350 cows on each, and raise all of their own replacement heifers. Rates are generally significantly lower than the ordinary rate at the same income level. Now in its fourth. If you would like to help, donate to DFA CaresHERE. Therefore, the sale of feed and crop inventory, feeder livestock, milk, and supplies are all taxed as ordinary farm income and is also subject to self-employment (SE) tax which is typically at 15.3 percent up to $132,900 of taxable income. Additionally, he serves as secretary of DFAs Board of Directors. Previously, he served on the San Joaquin County Board of Supervisors, was a member of the San Joaquin Valley Air Quality board, served on the Sutter Tracy Hospital board of trustees and was appointed by California Governor Pete Wilson to the San Joaquin Fair board. @@@@A@@@@AAAACBAAAAAABBBAAAAAAAAAAAAACCCCCCCCCCBBBBCCBBA@@@AA@@AAAABBBBBBBBBBBBBBBBBBABBCCBBAABBBBCCCCCCCCCCCCCCCCCCCDDDDDDDDCCCCCDDDCCDDCCBBCCDDDDEEDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDCCDDEEFFGGFFFFGGGGGGGGGGGGGGGGGGGGGGGGGGHHGGGGFFGGGFFEEDFFFFFFFFEEEEEEEEEEEEEEEEDDEEEEDDCCCCBBBBAAAAAAAA?>>====>===<. The farm, Batemans Mosida Farms, started in 1972 with 120 cows. It is important to identify how you are structured. Working closely with your lenders will be important if this is a consideration. He also serves as treasurer and session member of his church. [3], In January 2019, the federal government of Canada gave $2.7 million to the organization. General inquiries. In partnership with his brother, Randy, and nephew, Russ, they milk 100 Holstein cows and farm 1,200 acres of corn, soybeans, wheat, grass and alfalfa on their century farm, O-Rich Dairy. Doug farms 2,500 acres of corn, soybeans and alfalfa, milks 250 cows and finishes about 2,000 Holstein steers each year with his three sons. ""##$$%%&&%%%%%%%%%$$$$%&&((''''((()**++++***+,-/0..///00001111222222222211234455555555555444444455678889:;;:989999:::::::;;;;;:;;<<<<<<=====>>>>>>????@@@@@@@@AAAABBBBCCBBBCDDEDCBBCDEBBBBAAAAAAAAAAAA@@@@@AAABBAAAA@@@@AAAABBBBAAAA@@BBCCBA@@AABBBBAABAAAA@@@? John milks 60 Holstein and Jersey cows on his farm in Myerstown, Pa. He joined DFA in 2003 and has held various roles within the Western Area, including vice president of fluid milk operations and vice president of operations. Randy was elected chairman of DFAs Board of Directors in 2010 and is a member of DFAs Executive Committee. John owns and operates H.A.W. This is not an exhaustive treatment of all potential tax law effects just the high points, if thats possible. %&%%&&%%$$%%%%%%%%%%%%%&&&%&&&'((()))********+,-./..--./0011111223333333332233334444445555554333344444566788899999::;;;;<>>>>??>>??@@@@@@@ABCBBBCCCCCCCBBBCDDEEEFFFFGEDDCBAAA??? =(jauvc:45?4$[6m^q:[;HVHM(:)Rd.iVahlut#?S gz]+4)*gogQv&}Fc- o'r.`nY42 Dairy farmers are having to consider a number of life changing decisions that they never thought would come. DFA's business profile benefits from the substantial national scale as the largest U.S. dairy cooperative and its integral market position in the dairy supply chain based on DFA's expansive logistics, distribution and commercial processing capabilities that connect key customers and farmers. Forbes-Brown, S., Micheels, E.T. 330-670-7800. He is actively involved in his local community, serving as chairman of the Churchill County Commissioners and the Churchill Economic Development Authority. %&%%%%%$$#%%%%%%%%%%%%%&&&%&&&'((()))********+,-//.---./0011111123333333332223333444445555544333344444566788899999::;;;;<>?????>>>?@A@@@@AABCBBBBCCCCCBBBBCCDEEEEFFFFEDDCBAA@???? Dairy. As chief information officer, Jeff leads the information technology team (IT) and is responsible for the transformation, application implementations, portfolio management, continuous process improvements and program delivery across DFA. Kent is also a member of DFAs Executive Committee. Switch your location and language to explore all of our resources. Canadian dairyfarmersare naturally committed to sustainability and the environment. May 15, 2019. He has held various positions at DFA including roles in transportation, membership services and procurement, and most recently as senior director of dairy procurement for the Dairy Brands Division. For a cash-basis taxpayer; crops, feed, milk, and other supplies will normally have a zero cost-basis as the cost of these assets has usually been deducted as a cash expense. In hercurrent role as senior vice president and chief communications officer, Kristen is responsible for overseeing the Cooperatives communications strategy, marketing, brandand messaging development and ensuring effective communication withfarmer-owners, employees, consumers, customers and other key stakeholders. Land may have substantial equity above the mortgaged or debt amount and have unique sale procedures to be met with the creditors. They are a West Virginia Century Farm. When fully operational, this 375,000 square foot facility built on a 120-acre lot will employ 260 local people and will process more than 2.9bn pounds of milk from local farmers into more than 300m pounds of block cheese and 20m pounds of value-added whey protein powders each year. My Responsibilities as a production supervisor are as follows: manage milk receiving, UF's, the evaporators, powder handling .