with New State Tax Law
Friday, September 23, 2011 by Mary Jane Buerkle
The Texas Comptroller's Office has launched a new webpage designed to provide information for the agricultural and timber industries as the state implements House Bill 268, which requires commercial producers to have an Ag/Timber Registration Number for sales tax exemptions on eligible purchases beginning Jan. 1, 2012.
More information and the appropriate forms are found at http://window.state.tx.us/taxinfo/agriculture/index.html. One helpful aspect of the page is the option to receive email updates when the page changes.
Those wishing to claim ag/timber sales tax exemptions must ensure that they have a registration number, which also has to be included on Form 01-924, the Texas Agricultural Sales and Use Tax Exemption Certification. The purchaser must provide that form to the merchant when claiming a sales tax exemption on qualifying items.
Currently uploaded to the site are PDF forms AP-228 (Application for Texas Agricultural and Timber Exemption Registration Number) and 01-924 (Texas Agricultural Sales and Use Tax Exemption Certification). These can be downloaded, printed and mailed to the State Comptroller's Office.
Another option would be to deliver it to the nearest State Comptroller field office. The Lubbock field office is temporarily closed to repair damage from the August 11 rainstorm. You can locate another field office that may be more accessible here: http://window.state.tx.us/taxinfo/fieldoff.html or call 1-800-252-5555 and press 0.
An online version of the Ag/Timber Registration Number application will be made available the first week of October 2011.
"This slight change in the way ag and timber sales tax exemptions are administered will be extremely beneficial to producers as it will help eliminate the fraudulent use of sales tax exemptions and protect our ability to correctly utilize those exemptions in the agricultural industry," Plains Cotton Growers Executive Vice President Steve Verett said. "Once implemented, the process of claiming agricultural sales tax exemptions on eligible purchases will be more seamless and easier than ever."
AgriLife Extension to Conduct Master
Marketer Short Course in Plainview
The Texas AgriLife Extension Service will conduct a Master Marketer Short Course early next year in the Museum of the Llano Estacado on the Wayland Baptist University Campus. The museum is at 1900 West 7th Street in Plainview.
The dates for the 2012 Master Marketer Short Courses are Jan. 17-19, Feb. 1-2, Feb. 15-16 and Feb. 29-March 1.
"This program is designed for agricultural producers and agribusiness leaders experienced in marketing commodities who have some knowledge of the futures and options markets," said Dr. Jackie Smith, AgriLife Extension economist at Lubbock and a workshop coordinator.
Smith said the nine-day, 64-hour course consists of intensive marketing training that focuses on cotton, feed grains, livestock and wheat.
"The whole purpose of the course is to expose participants to a wide range of topics that will enhance their marketing skills from a real-world standpoint," Smith said. "We use many case-study examples and augment them with simulated problems to get the point across in the most straight-forward way possible."
Smith said some of the key topics will be developing a marketing plan, basic and advanced marketing strategies, fundamental and technical analysis, marketing discipline and the impact of weather on commodity markets. Course instructors represent AgriLife Extension, several universities and private industry.
"This award-winning program has been taught in Texas 23 times at 10 different locations and boasts almost 1,000 graduates," Smith said. "This will be its first time to be taught in Plainview though, so producers should make plans now to take advantage of this rare opportunity."
The course has room for a total of 60 participants, but Smith urges those planning to attend to register now while room is still available.
Individual registration is $300 due at the first class. Register online at http://agriliferegister.tamu.edu. The keyword is Master Marketer.
A brochure and more information is available from your local AgriLife Extension agent or by calling Smith at 806-746-6101.
Producers with irrigated acreage who grow cotton varieties with Monsanto's Genuity¨ cotton traits, regardless of the brand of cottonseed, have until Friday, Sept. 30, to submit claims to Monsanto for the Trait Crop Loss program.
This one-time deadline extension, granted at the request of cotton growers, allows crop insurance adjusters more time to validate claim losses before the producer destroys the field.
Bayer CropScience will host their field days on Wednesday, Sept. 28 (attendees south of Lubbock) and Thursday, Sept. 29 (attendees north of Lubbock) at the Idalou Breeding Station, located 3.2 miles east of Idalou on U.S. Highway 62/82. Registration and field tours begin at 9:30 a.m., and lunch will follow. For questions, please call (806) 765-8844.
If you have a crop tour or field day, we can help you spread the word! Call us at (806) 792-4904 or email email@example.com.
Cotton Incorporated announced today the completion of a comprehensive life cycle inventory and life cycle analysis of cotton products. The endeavor is part of the Cotton Foundation VISION 21 Project and included the participation of the National Cotton Council, Cotton Council International and Cotton Incorporated.
The two-year study, managed by PE International, was designed to establish current and accurate benchmarks of potential environmental impacts across the global cotton supply chain. The peer-reviewed data and assessment methodology will help direct sustainability research efforts for the cotton industry, as well as to aid textile decision-makers in achieving their own sustainability goals.
Industry forces, mobilizing under an initiative called "Vision 21," are compiling a comprehensive cotton lifecycle inventory (LCI). That inventory's data will serve as a foundation for global cotton lifecycle evaluations -- ultimately providing a credible foundation for sustainable textile operations.
The study takes a holistic and comprehensive view of the life cycle of cotton textile products. The life cycle inventory (LCI) is a quantification of relevant energy and material inputs and environmental release data associated with the production of cotton from cradle-to-gate (fiber) and manufacturing from gate-to-gate (fabric). The associated life cycle assessment (LCA) models the environmental impact of representative cotton apparel (a knit golf shirt and woven cotton trousers) from the field through to consumer care, use and disposal (cradle-to-grave).
Data for the cradle-to-gate segment were collected from the three largest cotton producing countries (China, India, and the United States) and reported as a global average. Similarly, the data for the textile processing phase was culled from surveys among representative mills in the four largest textile processing areas (Turkey, India, China, and Latin America) and are also presented as a global average. Data for the cut-and-sew and consumer use phase were supplemented by a range of credible secondary sources.
The LCA is cotton-centric, meaning it does not compare the environmental impact of cotton to competitive fibers. "The cotton LCA is about measurement, not marketing," says Berrye Worsham, Cotton Incorporated President and CEO. "The textile industry and consumers alike are weary of competition-motivated green marketing. This project is about facts, and establishing a baseline to measure cotton's environmental gains moving forward."
The LCI data collection and LCA modeling were spearheaded by PE International and adhere to ISO-14040 standard. The LCI data sets will be made available through such widely used databases as Ecoinvent and the U.S. Life Cycle Inventory, as well as via a reporting tool slated for availability in early 2012.
About Vision 21
"Vision of U.S. Cotton's 21st Century", or Vision 21, is a project of The Cotton Foundation and encompasses the following initiatives: 1) analysis of the demographic and structural facets, with underlying sources of change, in the Asian consumer apparel and textile product markets; 2) "Cotton's Revolutions", a program to engage the global cotton textile industry in discussion about the forces impacting the world's textile and apparel complex through the year 2025; 3) sustainability and environmental aspects of U.S. cotton production, storage, transport, textile processing, apparel manufacturing and consumer handling; and 4) a study of U.S. raw cotton flow analyzing cotton logistics from bale formation through to delivery to a spinning mill customer.
About The Cotton Foundation
The Cotton Foundation is as a 501(c)3 organization created to give U.S. cotton's agribusiness allies opportunities to support the U.S. cotton industry over and above the products and services these firms provide.
About The National Cotton Council
The National Cotton Council of America's mission is to ensure the ability of all U.S. cotton industry segments to compete effectively and profitably in the raw cotton, oilseed and U.S.-manufactured product markets at home and abroad.
About Cotton Council International
Cotton Council International's (CCI) mission promotes exports of U.S. cotton, cottonseed and U.S. manufactured cotton products through activities that affect every phase of the marketing chain. CCI operates in 50 markets under the COTTON USA banner.
About Cotton Incorporated
Cotton Incorporated, funded by U.S. growers of upland cotton and importers of cotton and cotton textile products, is the research and marketing company representing upland cotton. The Program is designed and operated to improve the demand for and profitability of cotton.