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 agricultural commodities produced by the producer, including sales resulting from value added through post-production activities; (2) Sales of agricultural commodities 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 commodities; (3) The taxable amount of cooperative distributions directly related to the sale of the agricultural commodities produced by the producer; (4) Benefits under the following agricultural programs: ARC and PLC, BCAP, DMC, LDP, MFP, MLG, and MPP-Dairy; (5) CCC loans, if treated as income and reported to IRS; (6) Crop insurance proceeds; (7) Federal disaster program payments under the following programs: 2017 WHIP, ELAP, LFP, LIP, NAP, Milk Loss Program, On-Farm Storage Loss Program, STRP, TAP, and WHIP+; (8) Payments issued through grant agreements with FSA for losses of agricultural commodities; (9) Grants from the Department of Commerce, National Oceanic and Atmospheric Administration and State program funds providing direct payments for the loss of agricultural commodities or the loss of revenue from agricultural commodities; (10) Revenue from raised breeding livestock; (11) Revenue earned as a cattle feeder operation; (12) Other revenue directly related to the production of agri

official document · source cfr-2024 · id 7:§ 9.304