FCS tax breaks totaled $430 million in 1997(September 1998)

Bert Ely

American Bankers Association, 1998, vol. 12, issue 01

Abstract: As bankers know all too well, the Farm Credit System (FCS) receives a substantial tax subsidy which greatly enhances its competitiveness. It is estimated that FCS' ag lending benefited from a $430-million tax subsidy in 1997, or 92 basis points per dollar of outstanding FCS loans. FCS institutions benefit from 2 principal tax breaks: 1. the exemption of many FCS lending institutions from any federal corporate income taxation and 2. the exemption from state and local income taxation for interest paid on FCS debt obligations.

Keywords: Agricultural; Finance (search for similar items in EconPapers)
Date: 1998
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