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Asian demand for empty shipping containers is causing a backlog of agricultural goods at West Coast ports. Asia s willingness to pay a premium for empty shipping containers is causing a backlog of farm goods at West Coast ports.
The West s ability to export agricultural goods suffered a significant blow at the outset of the yearlong pandemic that began last year. Instead of improving, things have gotten worse as maritime shipping companies are prioritizing empty containers for return to China over filling them with agricultural exports.
The impacts are hurting California tree nut exporters particularly hard as almond prices have tanked and growers are trying to recover from a global economic meltdown.
The California Fresh Fruit Association (CFFA) is pleased with yesterday’s announcement from Governor Gavin Newsom regarding the launch of the OptumServe site at Reedley College to provide…
Getty Images The IRS issued a notice that the forgiven PPP loan amounts are not deductible as it would result in a so-called double tax benefit.
Hundreds of farm and business groups from the West and around the country are urging Congress to enact legislation before the end of the year that includes a technical correction addressing the tax treatment of loan forgiveness under the Paycheck Protection Program (PPP).
As Western Growers explains, President Donald Trump in March signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law, which included the PPP. Congressional intent of the CARES Act was to allow for continued payroll deductibility, even for the amount forgiven under the PPP loan program.
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