Allowable gross revenue.

CFR · 2024-01-01 · US · Title 7

(a) For the purposes of this subpart, “allowable gross revenue” includes revenue from: (1) Sales of eligible crops produced by the producer, which includes sales resulting from value added through post-production activities that were reportable on IRS Schedule F; (2) Sales of eligible crops a producer purchased for resale that had a change in characteristic due to the time held (for example, a plant purchased at a size of 2 inches and sold as an 18-inch plant after 4 months), less the cost or other basis of such eligible crops; (3) The taxable amount of cooperative distributions directly related to the sale of the eligible crops produced by the producer; (4) Benefits for eligible crops under the following agricultural programs: 2017 WHIP, ARC and PLC, BCAP, LDP, MLG, MFP, the On-Farm Storage Loss Program, and STRP; (5) CCC loans for eligible crops, if treated as income and reported to IRS; (6) Crop insurance proceeds for eligible crops, minus the amount of administrative fees and premiums; (7) NAP payments for eligible crops, minus the amount of service fees and premiums; (8) ELAP payments for an aquaculture crop; (9) Payments issued through grant agreements with FSA for losses of eligible crops; (10) Grants from the Department of Commerce, National Oceanic and Atmospheric Administration and State program funds providing direct payments for the loss of eligible crops or the loss of revenue from eligible crops; (11) Other revenue directly related to the production of eligible

official document · source cfr-2024 · id 7:§ 760.1903