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By far, the most popular question that is received by the Pitt County Extension Center is "Where can I find information related to the value of quota in previous years." This is an important question due to the implications that it has on determining capital tax amounts to be paid when calculating the impact of tobacco buyout funds on personal taxable income. Listed below is a new web page developed to assist growers and former allotment holders in making reasonable efforts to collect such information. This page will continue to be updated as more information becomes available.
"Establishing Tobacco Quota Basis for Pitt County, North Carolina" factsheet
Calculate Your Historical Tobacco Poundage - In order to use this spreadsheet, simply enter your 2002 basic quota level. After this entry, the spreadsheet will calculate your historical quota levels back to 1938.
Method to Report Tobacco Quota
Tax Reporting of Buyout Payments for Amortized Tobacco Quota
"OPERATION TRENCH" - Production practices for tobacco growers which will assist them in managing their tobacco crops in a post-tobacco buyout environment.
"Ten Payments Versus One Lump Sum?" - Visit this website constructed by Guido van der Hoven, NCSU Extension Specialist, to evaluate your buyout options. After arriving at the website, go to the Net Present Value Calculator for Lump Sum Options for the Tobacco Quota Buyout dated 10/28/2004. - An instructional sheet entitled, "Using the Tobacco Net Present Value Calculator" is located just below this spreadsheet and can be printed.
Tobacco Talk- A newsletter designed to update Pitt County tobacco farmers on issues related to tobacco production and the tobacco buyout legislation.
NCSU Tobacco Economics Website
USDA Economic Research Service
This page (http://www.ces.ncsu.edu/pitt/ag/tobacco/index.html) was created by Mitch Smith on September 8, 1998 and updated on August 31, 2007.