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Northern Hemp Summit & Ag Producers Income Tax Management Scheduled

County Agent News
Dan Folske
October 28, 2019

 

The Latest News on Hemp Production

            North Dakota Farmers have a long history of trying new crops and current commodity markets have producers looking for new opportunities. We have seen many new crops come and go and sometimes it’s hard to pick the winners. Today’s new wonder crop is Hemp. There are actually several different Hemp crops out there and production practices are not necessarily the same for all of them. If you are considering Hemp you need to learn as much as possible about the crop as possible. The Northern Hemp Summit, scheduled for Nov. 19-20 in Bismarck is one learning opportunity you should consider.

 

Northern Hemp Summit Scheduled for Nov. 19-20 in Bismarck

The Northern Hemp Summit will provide those interested in hemp an opportunity to learn about the crop.

Agriculture and industry will converge during the Northern Hemp Summit Nov. 19-20 at the Ramkota Hotel and Conference Center in Bismarck.

Sponsored by the North Dakota Department of Agriculture, the North Dakota Department of Commerce and North Dakota State University Extension, the summit willHemp feature regional and national experts in hemp production, processing, policy, banking, insurance and feed. An exhibit hall will be open both days of the summit.

“There is considerable interest and activity in hemp in North Dakota,” says David Ripplinger, NDSU Extension bioproducts and bioenergy economics specialist. “This includes hemp oil, fiber and cannabidiol (CBD), all which will be discussed at the summit.”

The Northern Hemp Summit will provide those interested in hemp an opportunity to learn about the crop, its uses, legal and financial considerations, current hemp market conditions, and state and federal policy.

“North Dakota farmers have a long tradition of successfully growing new crops,” says Ripplinger. “The Northern Hemp Summit will provide an opportunity for farmers, lenders and others interested in hemp to quickly get up to speed and be ready for the 2020 growing season.”

The summit’s speakers are:

  • Eric Steentra, Vote Hemp president
  • Doug Fine, author and humorist
  • Chad Ulven, co-founder of C2Renew and NDSU Department of Mechanical Engineering associate professor

To learn more about the summit, view the agenda and register, visit https://www.northernhempsummit.org/.

Early bird registration is $125 through Oct. 31, full registration is $150 Nov. 1-15, and late registration is $195 through the start of the summit.

For more information, contact Ripplinger at 701-231-5265 or david.ripplinger@ndsu.edu.

 

 

Ag Producers Income Tax Management Program Set for Nov. 15

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The program will provide an excellent opportunity for agricultural producers and tax preparers to learn and ask questions.

A tax management program will be offered to ag producers and tax preparers from 9 a.m. to noon CST on Nov. 15 at nine interactive video sites in North Dakota.

“This program provides an excellent opportunity for agricultural producers and tax preparers to learn and ask questions about tax management alternatives while there is still time to implement year-end tax management decisions,” says Ron Haugen, North Dakota State University Extension farm management specialist.

The program, sponsored by NDSU Extension and the Internal Revenue Service (IRS), will feature presentations by:

  • Alan Gregerson, IRS
  • Jess Nehl, Eide Bailly LLP, Bismarck
  • Travis VanDyke, Eide Bailly LLP, Fargo
  • Rob Holcomb, University of Minnesota Extension

Program topics are:

  • Federal income tax update
  • IRS update
  • Identity theft and breaches
  • Tax management upon retirement
  • Net operating losses, like kind exchanges
  • North Dakota farm property tax exemption
  • Drought-forced livestock sales
  • Deferred crop sales
  • Qualified business deduction (199A)

The program will be offered at the North Central Research Extension Center in Minot.

For additional locations, search for “NDSU tax management program” in an internet browser.

Preregistration is required because seating is limited. The cost for the program and materials is $15. To register, contact Paulann Haakenson at paulann.haakenson@ndsu.edu or 701-231-7393.

 

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