- Associated Press - Thursday, March 26, 2015

LAKELAND, Fla. (AP) - Citrus growers are looking for a change in federal tax law that would allow them immediately to write off the cost of planting new citrus groves.

Under a proposed change in the law, growers wouldn’t have to wait four years to claim a tax benefit, but the write-offs would be limited to the first 10 years of the new grove.

The change is potentially worth billions of dollars for the Florida citrus industry. It could provide the incentive to growers to increase planting new groves, the first step in recovery from a decade of losses to the fatal disease citrus greening.

The Ledger (https://bit.ly/1CPDkXU) reports that Citrus Mutual in Lakeland, the state’s largest growers’ representative, is leading the charge for the change in the tax law, which would take Congressional action.


Information from: The Ledger (Lakeland, Fla.), https://www.theledger.com

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