The 2008 Farm Bill and subsequent regulations have established new adjusted gross income (AGI) and adjusted gross farm income (AGFI) limitations for farm program payment eligibility. The new limitations are considerably lower than the previous limitation of $2,500,000 and could have application to more producers than did the limitation under prior law. As a result, the corect computation of AGI and AGFI can be critical for ensuring that a producer remains eligible for farm program payments.
Click here to read a full article on the new income limitation rules.