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The Chronicles of Grant County
This column will feature items that relate somehow to Grant County - the name of a street in the case of the first one, and maybe other streets, or the name of a building or whatever catches the fancy of the contributor, Richard Donough. Readers are encouraged to send him topics of interest to them, so he can do the research and write an article.
- Category: The Chronicles of Grant County
The Chronicles Of Grant County
New Federal Reporting Requirements
No Longer To Be Enforced
Part Six
Scott Bessent is the Secretary of the Treasury of the United States. (The photograph was provided courtesy of the United States Department of the Treasury.)
[Editor's Note: The federal government has been going back and forth on this for months. This seems to finally be the end of it! All of us small businesses are happy!]
Forget about it.
That is, in essence, what the United States Department of the Treasury said in a statement issued on March 2, 2025.
The Federal government has now decided it will no longer enforce the requirements for most businesses in Southwest New Mexico and throughout the United States to file Beneficial Ownership Information (BOI) reports.
- Category: The Chronicles of Grant County
The Chronicles Of Grant County
New Federal Reporting Requirements
Now Mandatory – Again
Part Five
(The image was provided courtesy of the United States Department of the Treasury.)
(The image was provided courtesy of the United States Department of the Treasury.)
It’s back.
The requirement for most businesses in Southwest New Mexico and throughout the United States to file ownership details and personal information with the United States Department of the Treasury is back.
The new deadline for businesses to provide the information to the Federal government is March 21, 2025.
- Category: The Chronicles of Grant County
The Chronicles Of Grant County
New Federal Reporting Requirements
Now Mandatory – Again
Part Five
(The image was provided courtesy of the United States Department of the Treasury.)
It's back.
The requirement for most businesses in Southwest New Mexico and throughout the United States to file ownership details and personal information with the United States Department of the Treasury is back.
The new deadline for businesses to provide the information to the Federal government is March 21, 2025.
- Category: 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.
- Category: The Chronicles of Grant County
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.
- Category: The Chronicles of Grant 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."
- Category: The Chronicles of Grant County
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.
- Category: The Chronicles of Grant County
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.
PNM March 2025
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