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An Overlooked Tax Benefit: The U.S. Agricultural Chemicals Security Credit

January 5, 2011Daily Tax ReportYair Holtzman, Partner and Adam Packer (WTP Advisors)
An Overlooked Tax Benefit: The U.S. Agricultural Chemicals Security Credit

Introduction

The 110th Congress passed the Food, Conservation, and Energy Act of 2008 (Pub. L. No. 110-246), popularly known as the "Farm Bill," in May 2008 over the veto of President George W. Bush.

Buried in this legislation is a wide-ranging tax credit called the Agricultural Chemicals Security Credit. One of the primary drivers underlying the need for this credit is safety from possible terrorist attacks.

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