Commercial Fishing, Farm, and Ranch Risk Management Act

Summary

Commercial Fishing, Farm, and Ranch Risk Management Act - Amends the Internal Revenue Code to establish a Commercial Fishing, Farm, and Ranch Risk Management Account (CFFR Account) to provide farmers and commercial fisherman with additional capital for investment and to protect against operating losses. Allows a tax deduction for cash contributions to a CFFR Account, limited to 20% of the taxpayer's taxable income attributable to an active farm or commercial fishing business. Imposes a 10% additional tax on amounts in a CFFR Account which are not distributed within 10 years after the establishment of such Account.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 August 2012

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• Introduced in House (PDF)

  Introduced in House · EN · 2 August 2012

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• Introduced in House

  summary · EN · 2 August 2012

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