The Chronicles of Grant County

The Chronicles Of Grant County

Foreign Ownership Of Agricultural Land In Southwest New Mexico

This map shows the amounts of acreage owned by foreign entities and individuals in Southwest New Mexico and surrounding areas. Grant County is highlighted in a darker shade of orange on this map. (The map was provided courtesy of the United States Department of Agriculture, December 31, 2023.).

More than 161,000 acres in Southwest New Mexico are owned by individuals and entities from 9 other nations.

These statistics are from a report issued by the Farm Service Agency of the United States Department of Agriculture (USDA), “Foreign Holdings of United States Agricultural Land Through December 31, 2023”, as well as the detailed data underlying the annual reports of the Agricultural Foreign Investment Disclosure Act (AFIDA). This report and its detailed data include the most recent information on this subject from the USDA.

As noted in The Chronicles Of Grant County in 2024, the data utilized by the USDA as of December 31, 2021, included information that may not be correct.

The USDA included that same information in the updated data as of December 31, 2023.

The Chronicles Of Grant County

Agriculture In Catron County

There were 305 farms operating in Catron County in 2022. (The map was provided courtesy of the United States Department of Agriculture, 2024.)

While there was an 11% decrease in the number of farms in Catron County during the five years from 2017 to 2022, there was also a steady increase in the amount of acreage used for agricultural purposes in Catron County during that same time period.

In 2022, there were 305 farms in Catron County. This was a decrease in the number of farms from 2017 when there were 341 farms in the county. The number of farms in 2017 was 3% less than the number of farms in 2012 in Catron County.

The Chronicles Of Grant County

Nickel Street
In Deming And Lordsburg

Despite its name, the nickel coin is mostly composed of copper. (The image was provided courtesy of the United States Mint, 2024.)

Nickel Street in Lordsburg and a roadway with the same name in Deming are both named after the metal.

"Nickel is primarily sold for first use as refined metal (cathode, powder, briquet, etc.) or ferronickel," according to a statement from the United States Geological Survey (USGS). "About 65% of the nickel consumed in the Western World is used to make austenitic stainless steel. Another 12% goes into superalloys…or nonferrous alloys. Both families of alloys are widely used because of their corrosion resistance."

The Chronicles Of Grant County

Updates On Tax Form 1099-K For 2025

Changes are coming for people who received income through third-party settlement organizations in 2024. (The image was provided courtesy of the IRS.)

The Internal Revenue Service (IRS) will be provided with more complete information about income earned by people who utilized third-party settlement organizations in 2024.

If someone received $5,000 or more through third-party settlement organizations during Year 2024, they will be receiving a Form 1099-K detailing those payments. That Form 1099-K is to be sent to them in early 2025. The IRS will also get a copy of their Form 1099-K in early 2025.

The Chronicles Of Grant County

Federal Tax Credits For Farmers And Ranchers Using Fuel For Agricultural Purposes

The IRS offers information on Federal tax credits available to farmers and ranchers that use fuel off-the-highway for agricultural purposes. (The logo was provided courtesy of the IRS.)Farmers and ranchers in Catron, Grant, Hidalgo, and Grant Counties have the ability to seek tax credits if they have used fuel for agricultural purposes at their farms and ranches.

The amounts of the credits could be modest or could be considerable, depending on the type and the amount of fuel used for farming or ranching operations.

Each time someone purchases a gallon of gasoline, for example, the price paid includes a Federal fuel tax. These taxes have been assessed for the purpose of highway construction, maintenance, and repair.

The Chronicles Of Grant County

The Ping Ponging Of New Federal Reporting Requirements

Part Four

Players competing in a table tennis (ping pong) match are shown in a portion of a photograph of the event in Tokyo. (The photograph was produced by Cameron Smith and provided courtesy of The White House, August 24, 2021.)

[Editor's Note: I found this very confusing, so I requested a summary and details at the end of the article.]

(You may want to first read the last two paragraphs of this news column - the ones prior to the summary and details.)

Today is the anniversary of a vote taken by the United States Senate.

The Chronicles Of Grant County

Santa Claus May Be In Southwest New Mexico

In recent days, several reindeer – "caribou" in the United States – were seen in the wooded land above Lake Roberts in the Gila National Forest. The antlers of two of the reindeer can be seen behind the big tree in the middle of this photo. (The photograph was produced by Preston Keres and provided courtesy of the United States Forest Service.)

The Chronicles Of Grant County never trades in gossip.

While others may be swayed by influencers on the internet, The Chronicles Of Grant County only focuses on seeking out the truth about activities and events important to the people of Southwest New Mexico.

It is in this spirit that we have found clues that indicate that Santa Claus is visiting our slice of America. Again.

In recent years, Santa Claus has utilized Grant County to begin his whirlwind trip around the world.

The Chronicles Of Grant County

Federal Government Suspends Enforcement
Of New Federal Reporting Requirements

Accepts Voluntary Compliance

Part Three And A Half

The logo for the Beneficial Ownership Information Reporting Program of the Financial Crimes Enforcement Network of the United States Department of the Treasury. (The image was provided courtesy of the U S Department of the Treasury.)

Due to actions in the Federal courts, the United States Department of the Treasury has included the following statement on the website for the Financial Crimes Enforcement Network (FinCEN) regarding the requirements for most businesses to file Beneficial Ownership Information (BOI) Reports as part of adherence to the Corporate Transparency Act (CTA):

"BOI e-Filing Alert: Please note that beneficial ownership information reporting [BOIR] requirements have been affected by a recent Federal court order. The Department of the Treasury is appealing that order. In the meantime, reporting companies are not currently required to file a BOIR and are not subject to liability if they fail to do so while the applicable order remains in force."

"However, reporting companies may still opt to file a BOIR."

You can view this summary statement by clicking here.

That summary statement is then linked to the following more detailed statement from the U S Department of the Treasury:

"Alert: Impact of Ongoing Litigation – Deadline Stay – Voluntary Submission Only"

"In light of a recent Federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports."

"The Corporate Transparency Act (CTA) plays a vital role in protecting the U S and international financial systems, as well as people across the country, from illicit finance threats like terrorist financing, drug trafficking, and money laundering  The CTA levels the playing field for tens of millions of law-abiding small businesses across the United States and makes it harder for bad actors to exploit loopholes in order to gain an unfair advantage."

"On Tuesday, December 3, 2024, in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.), a Federal district court in the Eastern District of Texas, Sherman Division, issued an order granting a nationwide preliminary injunction that: (1) enjoins the CTA, including enforcement of that statute and regulations implementing its beneficial ownership information reporting requirements, and, specifically, (2) stays all deadlines to comply with the CTA's reporting requirements. The Department of Justice, on behalf of the Department of the Treasury, filed a Notice of Appeal on December 5, 2024."

"Texas Top Cop Shop is only one of several cases in which plaintiffs have challenged the CTA that are pending before courts around the country. Several district courts have denied requests to enjoin the CTA, ruling in favor of the Department of the Treasury. The government continues to believe – consistent with the conclusions of the U S District Courts for the Eastern District of Virginia and the District of Oregon – that the CTA is constitutional."

"While this litigation is ongoing, FinCEN will comply with the order issued by the U S District Court for the Eastern District of Texas for as long as it remains in effect. Therefore, reporting companies are not currently required to file their beneficial ownership information with FinCEN and will not be subject to liability if they fail to do so while the preliminary injunction remains in effect."

The requirement for most businesses, unless exempted, had been to file detailed BOI reports with the FinCEN by January 1, 2025.

Penalties for non-compliance had included civil penalties of $591 fines for each day that a person willfully violated the BOI reporting requirements as well as criminal penalties of up to two years in prison and up to $10,000 in fines.

(Previous news reporting had indicated that civil penalties included fines of $500 for each day that a person willfully violated the BOI reporting requirements. The Federal government had included an adjustment for inflation for non-compliance so the initial amount of $500 for a daily fine has been adjusted upward to $591, according to the most recent statement from the U S Department of the Treasury.)

Please note that this situation is fluid.

The Federal government could choose to again begin enforcement of the new Federal reporting requirements.

As noted previously in this news series, businesses may want to contact an attorney or another professional of their choice to determine whether they may be exempt from filing a BOI report with the FinCEN or if they are or will be required to file a BOI report at some point.

Do you have questions about communities in Grant County?

A street name? A building?

Your questions may be used in a future news column.

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© 2024 Richard McDonough