New Agricultural Tax Exemptions and the Florida Tax Exempt Ag Materials (TEAM) Card

Are you taking advantage of all the tax breaks available to you as a farmer? You may be aware that there are sales tax exemptions on items such as off-road (dyed) diesel fuel, electricity used for ag purposes, trailers used in ag production, fertilizer, fungicides, pesticides, power farm equipment, and plant material used to produce food for human consumption.

You may not be aware that back in July 2023 the Florida Legislature passed a law that became Florida Chapter 2023-154 that now includes temporary and permanent fencing, post, wire, electric fencing and supplies, and even concrete for posts, nails, screws, staples and hinges for gates.

The law also created a card that can be shown to retailers to verify your agricultural tax exemption called the Farm Tax Exempt Agricultural Materials (TEAM) card. This card will be available to producers starting in 2024.

For a more thorough reading about the agricultural tax exemption and the TEAMS card please refer to this article written by Extension Agent Doug Mayo. Florida Farm TEAM Card for Agriculture Sales Tax Exemption | Panhandle Agriculture (ufl.edu)  There are some great reference articles attached for more in-depth information.

Nurseries Seek Forming Peer Group

A few wholesale nursery businesses are seeking interest from other nurseries to develop a peer group to evaluate production and financial aspects of operating a nursery business.  Some of the benefits that belonging to this group could be nursery visits, production chain evaluation, production finish times, finding inefficiencies in  production, financial benchmarking, finding future research and education needs to solve common industry problems,  having peers to network with to solve issues and cost/waste savings.  If you are interested in having a introductory discussion about developing a nursery production peer group please email Shawn Steed at ststeed@ufl.edu. 

UF/IFAS Extension Helping You--Financial Management Class

Although most people equate Extension Services with helping agricultural clientele, we also have a long history of improving the home front as well.  Here is just such an example with an excellent class series being offered at Hillsborough County Extension office on financial management.  The classes end with a valuable one-on-one session with a financial planner.  Maybe you or your employess might benefit from attending...

Achieving Financial Goals Classes Series & One-on-One Sessions

What: Achieving Financial Goals Class Series

When: October 4, 11, 18, & 25, 2012, 6:00 p.m. – 8:00 p.m.

Where: Hillsborough County Extension Office, 5339 County Road 579 in Seffner.

Registration: $8 per household for the entire series. No shows and late cancellations will not receive a registration refund.

Register at: http://achievingfinancialgoals2012.eventbrite.com

Registration Deadline: September 27, 2012. Seating is limited.

Hillsborough County Extension Service in partnership with Financial Planning Association of Tampa Bay is offering a class series to help people achieve their financial goals. The series will include a pro-bono session with a financial planner. This is a non-commercial, educational program. No products or services will be sold.

Topics will include:

Evaluating your financial situation

Cash & credit management

Saving & investment options

One-on-one pro-bono session with a financial planner

For additional information contact Lisa Leslie at 813-744-5519 ext. 54143.
Persons with disabilities requiring special accommodations, please contact Lisa at 744-5519 x54143 at least five working days prior to the program so proper consideration may be given to your request.

Florida Agriculture Financial Management Conference

Here is an opportunity you may want to take advantage of to increase your financial competence concerning your agriculture opperation.  Dont forget to take advantage of the benchmarking website for nursery growers as well.  https://hortbusiness.ifas.ufl.edu/analysis/

Sharpen Your Financial Skills at the 2012 Financial Management Conference!


Market dynamics continue to change, capital requirements are increasing for operations at a rapid rate and positive business margins are difficult to maintain. The unknowns of the marketplace are greater due to the sensitivity of the current global economic situation as well as global trade issues. The participation of outside capital continues to be a variable in markets that create the risk of more volatility. All of this points to the fact that financial risk management is more important than any other time in history. Florida Grower would like to inform you about the 2012 Florida Agriculture Financial Management Conference being held in Kissimmee, FL, Sept. 9-11, 2012.

This opportunity will offer those involved with the day-to-day business management, the decision making ability to increase their knowledge of what the "Fundamentals" of the global agriculture market suggest, understand key "technical" financial measurements of your business, and use these to proactively position your business to circumvent road blocks or obstacles, and also capitalize on opportunities.

The next decade in agriculture will present your business with more opportunities than the past thirty years. Plan to attend this seminar so you can be ready! At the conference, you'll hear industry leaders talk on the following topics and trends:

Positioning Your Business for the Wild World of Global Economics

• Review key financial ratios, benchmarks, and guidelines that can be used in operating your business

• Quick reads on how to allocate profits, build liquidity and wealth in your financial statement.

• What financial factors influence cash flow?

• See why sales growth causes cash flow problems.

• Understanding your lender and what they want of their borrowers

What Will it Take to Return the US Economic Growth Path to Its Former Glory?

Estate and Succession Planning

Tax Tips and Traps

Agriculture Economy Outlook

Marketing Florida Agriculture Products in a Global Market

Click here form more information http://fafmc.org/

Nursery Cost Analysis

When growers think about "sustainability" usually they are thinking about conservation and environmental consequences. Many producers don't usually think of economic sustainability. Staying in business is a consideration within the realm of sustainability and staying in business means having more money coming out than what you put in.  What if I asked you how much does it cost to produce a finished 1 or 3 gallon of a particular plant your growing?  Would you know the answer to a series of questions such as; How much profit do you make on that plant?  What would it save you if you didn't pot up that plant?  How much profit is in producing that plant?  How much profit would you lose if you had to dump 10% of that crop?  Should you grow more of these plants than those plants?  These are all questions that can be answered by doing cost analysis. Here is an excellent video introduction on what cost analysis is in a nursery. It might surprise you that you can predict financial results on your nursery using this method. It does take some time to do the calculations but the paybacks could be substantial in terms of making real educated guesses on production factors. Just click on this link to view a Floricast video that explains the method   http://tiny.cc/zyyxo

Farm Credit Insurance Meeting 4/16/10 11:30

I got this meeting notice that you might be interested in.

Attached is information on an event that Farm Credit of Central Florida is having next Friday for Nursery Crop Insurance customers. We wanted to hold a luncheon where we would be able to discuss important topics related to the crop insurance policy and really try to teach nursery owners the ins and outs of this Federal policy. Please pass it along to whoever you think might be interested in attending. Farm Credit will be supplying lunch but we ask that you RSVP so that we have a good head count for the caterer.

Thank you,

Jennifer Parrish
Financially Related Services Manager
Farm Credit of Central Florida
Cell (407) 832-9884
Fax (863) 668-8145

4/16/10 at the Mid Florida Research and Education Center at Apopka, FL
11:30-1:30pm

Come learn the ins and outs of the Federal Nursery Crop Insurance Program.
It is important that policies are written correctly to insure that your policy
is in compliance with the USDA/RMA guidelines should you ever have a claim. Failure to be in compliance could result in a penalty or a denial of coverage.
During this time we will be discussing the basics of the crop insurance policy such as pot sizes, coverage levels, plant categories, and cold protection requirements.

Come hear from a leading member of our industry, Dr. Joe Cialone,
on what he has learned by consulting with the RMA on claim issues.

Lunch will be provided
Please RSVP by Thursday, April 15th to:
**You do not need to be a Farm Credit customer to attend**
jparrish@farmcreditcfl.com
(407) 880-7883