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Tax Study Shows Farming Is Money-Losing Business
AP reports a State Department study finds many farmers do not pay federal income taxes even in good times. In 1966 one quarter of farm receipts earned under $2,500 pre tax, and about one third paid no federal tax. The study notes tax losses and deductions boost after tax rates for some with outside income.
MENTIONED IN THIS ARTICLE
Washington
State Department
Edward Reinsel
Thomas Browning
Reinsel
Browning
Reinsel and
Congress
W. Fred Woods
Woods