- 3 -
Prior to 1991, Mr. Solvie participated in the management of,
and in all phases of, crop production and animal production by
performing, inter alia, the following farm-related activities in
the production of agricultural commodities (i.e., hogs): Loading
of the hogs; washing the facilities; checking the feed lines and
water levels; refilling the feed lines when necessary; and
observing hogs for disease. Prior to 1991, Ms. Solvie performed
the following farm-related activities in the production of
agricultural commodities: Entering data into the bookkeeping
system; accounting; conferring with accountants about bookkeeping
and return preparation; picking up orders and spare parts; and
running errands. Prior to 1991, the farming operation had the
capacity to process 1,000 head of hogs.
In December 1991, petitioners formed JJ & P Farms, Inc.
Petitioners each owned 50 percent of the stock of JJ & P Farms,
Inc., and they comprised the board of directors (board) of that
company. At all relevant times, JJ & P Farms, Inc., engaged in
the farming business, specifically raising hogs for the produc-
tion of pork. During 1993, 1994, and 1995, JJ & P Farms, Inc.,
farmed the same 928 acres of land that petitioners had farmed
prior to 1991, 415 acres of which petitioners owned. Third
3(...continued)
edges that that stipulation is not accurate and that third
parties owned 513 acres.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011