What am I missing? Randy talks about Delivery mid Dec, just don't cash your elev receipt until after Jan 1st. Checks are dated on date made out not delivery date, therefore would be income next year, right? You have 90 days from date of delivery to cash your check and still be covered by CGC bonds. For what ever good bonds are worth these days CGC doesn't make sure bonds are big enough to cover liabilities, it seems. ( Nabor Seeds) Even tho it is there job under ACT.
What about the guys that want/need the income before year end so have contracted grain for Nov/Dec delivery. CPC gave elev the right to refuse del for 3 months after contract with no penalty. The 3 months interest you would lose paying suppliers or payments that are in arrears would off set tax.
What about the guys that want/need the income before year end so have contracted grain for Nov/Dec delivery. CPC gave elev the right to refuse del for 3 months after contract with no penalty. The 3 months interest you would lose paying suppliers or payments that are in arrears would off set tax.
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