CLFP Insider
California League Of Food Producers
Feature Column
Transporting items in a food processing facility, whether raw ingredients or finished products, is a core aspect of the business. Many CLFP members maintain vast fleets of forklifts to accomplish this critical task. Most processors conduct regular forklift operator training and test workers’ knowledge on how best to safely drive equipment. Safe forklift operation, however, is the business of all workers and many workplace accidents impact bystanders not following safe pedestrian protocol.
Visit https://www.naylornetwork.com/cfp-nwl/articles/index.asp?aid=198664&issueID=26123 to view the full article online.
by Michael Ricioli and Dan Nutley, Partners, Food Processing & Agriculture Practice, Moss Adams LLP
The IRS recently issued new regulations for the capitalization and expensing of costs incurred to acquire, produce, repair, or improve real and personal property. And although they’re officially temporary, these new rules—the culmination of an almost eight-year project—apply to tax years beginning on or after January 1, 2012.
The IRS recently issued new regulations for the capitalization and expensing of costs incurred to acquire, produce, repair, or improve real and personal property. And although they’re officially temporary, these new rules—the culmination of an almost eight-year project—apply to tax years beginning on or after January 1, 2012.
Visit https://www.naylornetwork.com/cfp-nwl/articles/index.asp?aid=198665&issueID=26123 to view the full article online.
Capitol News
With Democratic supermajorities in both the California State Senate and Assembly, the 2013-2014 Legislative Session promises to be filled with policy and political challenges. A supermajority in both legislative houses gives Democrats the power to control not only tax measures but constitutional amendments and urgency legislation, which are bills meant to take effect immediately. It also gives them the ability to override the Governor’s vetoes.
Visit https://www.naylornetwork.com/cfp-nwl/articles/index.asp?aid=198663&issueID=26123 to view the full article online.
Regulatory Insights
Under the Air Resources Board cap-and-trade regulation, any entity whose emissions exceed the 25,000 MMTCO2e threshold during any year of a compliance period has a compliance obligation for that period and the next compliance period, unless it has shut down all sources of its emissions.
Visit https://www.naylornetwork.com/cfp-nwl/articles/index.asp?aid=198779&issueID=26123 to view the full article online.
Announcements
Olive oil production in California dates back to the early 1800s, following the Spanish missionaries planting groves of olive trees at each of the 21 missions they established ranging from San Diego to Sonoma in the 1700s. California provided an ideal climate for the olive and there was a thriving olive oil industry in California by the mid nineteenth century. Although the industry had diminished by the early twentieth century, increased customer demand and a resurgence of interest in olive oil production in California in the late twentieth century emerged and now the United States is producing 71,200 tons of olive oil (vs. 5,000 tons in 1999) and is steadily increasing . Although the United States only produces approximately one percent of its domestic consumption (99 percent of that is produced in California), to this day California olive oils are considered among the best in the world, consistently winning in international competitions over other olive oil producing countries.
