![]() ![]() What should be included when calculating my allowable gross revenue?Īllowable gross revenue includes all revenue a producer received on a “cash basis” during the applicable calendar year and reported to the Internal Revenue Service (IRS) on Schedule F or some other Federal tax form. and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a delta-9 tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis, that is grown under a license or other required authorization issued by the applicable governing authority that permits the production of the hemp. Hemp means the plant species Cannabis sativa L. Eligible aquacultural species must be raised by a commercial operator and in water in a controlled environment. Contract producers are not eligible for PARP.Īquaculture means any species of aquatic organisms grown as food for human or livestock consumption or for industrial or biomass uses, fish raised as feed for fish that are consumed by humans, and ornamental fish propagated and reared in an aquatic medium. Visit /parp for a full list of program eligibility requirements. Producers or legal entities eligible for PARP are those who were entitled to a share in the agricultural commodity, or those who would have been entitled had the agricultural commodity been produced and marketed.Īdditional eligibility requirements include legal ownership, average adjusted gross income, and conservation compliance provisions, among others. ![]() You must have been in the business of farming to produce an agricultural commodity during any part of calendar year 2020 and must have suffered a 15 percent decrease in allowable gross revenue in 2020 compared to either 2018 or 2019. Form FSA-1123 is available for download at /parp.įunding for PARP will be provided through the Consolidated Appropriations Act, 2021. If a producer fails to provide FSA-1123, then the eligible producer’s payment will be reduced by the portion of a payment attributed to a member who exceeds the $900,000 AGI limitation or is otherwise ineligible for payment. AGI provisions are applicable to members of a legal entity, including a general partnership or joint venture who are at or above the fourth tier of ownership in the business structure. With respect to joint ventures and general partnerships, this AGI provision will be applied to members of the joint venture and general partnership. A person or legal entity whose average AGI for 2016, 2017, and 2018 exceeds $900,000, but whose 2020 AGI is $900,000 or less, must submit form FSA-1123 and provide a certification from a licensed CPA or attorney affirming the person’s or legal entity’s 2020 AGI is not more than $900,000 to be eligible for a PARP payment. To be eligible for a PARP payment, an individual or legal entity must have an average adjusted gross income (AGI) of less than $900,000 for tax years 2016, 2017, and 2018. Is there an Adjusted Gross Income (AGI) limit to receive PARP assistance? Participation in other USDA programs is not a prerequisite to apply for PARP. I haven’t previously participated in any USDA programs. PARP is not a loan program and there is no fee to apply. USDA’s Farm Service Agency will accept PARP applications from Januthrough June 2, 2023.Īre PARP funds a loan that must be repaid? Is there a fee to apply? When does the signup period for PARP open and close? ![]() PARP is administered by USDA’s Farm Service Agency. This new program is part of USDA’s Pandemic Assistance for Producers initiative. USDA’s Pandemic Assistance Revenue Program (PARP) provides direct financial assistance to producers of agricultural commodities who suffered at least a 15 percent decrease in allowable gross revenue in calendar year 2020 due to the COVID-19 pandemic. What is the Pandemic Assistance Revenue Program (PARP)? ![]()
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