0-9 a b c d e f g h i j k l m n o p q r s t u v w y z search

TeachMeFinance.com - explain Payment limitation Payment limitation The term 'Payment limitation ' as it applies to the area of agriculture can be defined as ' The maximum annual amount of commodity program benefits a person can receive by law. Persons are defined under payment limitation regulations, established by USDA, to be individuals, members of joint operations, or entities such as limited partnerships, corporations, associations, trusts, and estates that are actively engaged in farming. The three entity rule limits the number of farms from which a person can receive program payments. The FAIR Act of 1996 sets payment limits at $40,000 per person per fiscal year on production flexibility contracts (down from $50,000 on target price deficiency payments). The limits of $75,000/person/year with respect to marketing assistance loan gains and loan deficiency payments for crops of contract commodities or oilseeds is maintained'. Previous 5 Terms: Payer Payerid Payline payload Payment Next 5 Terms: Payment method for utilities Payment quantity Payment Rate Payment Safeguards Payment-in-kind (PIK) About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.