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Profile of a Business
AGRICULTURAL MANAGEMENT INC.
Name: Agricultural Management Inc.
Owner: Larry Jennings
Location: Winfield, Iowa
When you cross state lines into Iowa, you are greeted by large billboards welcoming you to “Iowa … the land of opportunity.” The rich farmland of Iowa has created opportunities for many, and those opportunities have turned into huge agricultural success for Iowans.
The state leads the nation in production of soybeans, corn, and hogs. Larry Jennings is a part of those successes with his rotation grain farm producing soybeans, corn, and timber. He also contributes to Iowa’s agricultural success in another way.
His company, Agricultural Management Inc., provides appraisal and real estate services for agricultural properties. How do you appraise agricultural properties? From the air, of course. Larry purchased a plane in 1968 and has been flying it ever since.
“The air is the only way to see certain environmental hazards such as wet areas, and to accurately value agricultural properties. It’s crucial for my business,” says Larry. “Flying may be work, but it’s something I really enjoy. I can’t imagine not flying.”
According to Larry, business is going well, but the Senate’s bill for FAA reauthorization has him concerned.
“This bill overhauls the entire current tax structure in favor of a new user fee tax. What’s going to stop them from expanding this new tax program in the future? Especially with the creation of a private board to oversee the administration of the new tax funds,” says Larry.
“The new bureaucracy that will be needed to collect these funds would be excessive. We haven’t seen any figures on the costs of implementing the collection system, that’s what worries me the most. “
Larry will keep flying for now, but he’s fighting tooth and nail against the “user fee” tax so he can continue to use planes for his livelihood and for recreation.
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