GRAIN STORAGE & DRYING: - Qualified: 8% of $ paid -Non-Qualified: 0% -Total: 8% of $ paid
INPUTS & SERVICES: - Qualified: 8% of cost -Non-Qualified: 0% -Total: 8% of cost
Checks mailed in December represent 50% of the QUALIFIED patronage dividend. You will pay taxes on the entire Qualified dividend this year. The remaining part of the Qualified dividend will be retained and paid out with all taxes paid in the future. The Non-Qualified portion will all be retained and paid out in the future. You will pay taxes on this portion in the year they are revolved. Currently Ray-Carroll has revolved equity to 2013 and plan to stay within a ten year window.
Patronage Checks Example
If you sold 100,000 bushels of grain to R-C during the 2022 crop
You will receive a check in December for $11,500 (50% of Qualified), and you will pay taxes on $23,000 this year.
The remaining $11,500 of Qualified Patronage will be retained and should be paid out within 10 years. Taxes are already paid on this amount.
Non-Qualified Patronage is all retained. Your check for $5,820 should be paid out in 10 years. At that time, you will pay the taxes on this amount.
Our plan is to pay the full $28,820 out within a ten year window barring several years of floods/droughts.
$1000/ton NH3 would be $80/ton patronage. $40/ton paid in cash & $40/ton retained
Corn flat, Beans down 6, Wheat up 14 Crude Oil-82.99 up 1.95 US Dollar-103.58 up .15 Dow Jones-38,846.75 up 131.98
Wheat closed strong alongside firm Russian prices. New attacks in Ukraine spurred some bargain buying which also helped prices stay strong. Corn was steady most of the session as farmers continued to slowly liquidate longs. Brazilian bean harvest is plugging along causing a break in premiums, ultimately pulling CBOT prices lower.