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the years in issue. During those years, peanut farmers sold
peanuts produced in excess of the peanut quota (nonquota peanuts)
for about $300 a ton.
Petitioners rented the cropland to Shane Roselius in 1995,
to George Roselius in 1996 and 1997, and to Brian Watkins in
1998. Petitioners leased the land to Shane and George Roselius
(the Roseliuses) for $40 per acre and 14 cents per pound for the
peanut quota.2 Under the lease, the Roseliuses could keep the
proceeds from the sale of peanuts they produced in excess of the
peanut quota. Petitioners received lease income of about $30,000
in 1995.
Under the lease, the Roseliuses were required to: (1) Pay
rent each year in advance by January 15; (2) plant a cover crop
within 20 days after the peanuts were harvested; (3) maintain all
ditches and terraces; and (4) fertilize the land.
A storm in 1994 destroyed the roof of petitioners’ house,
left a foot of water in it, and flooded parts of the farm. The
Federal Government declared the area in which the farm was
located to be a disaster area. Petitioners received assistance
to repair the land.
Mr. King spent an amount of time not specified in the record
working on the farm during the years in issue. He plowed
2 The record does not include lease terms for Brian
Watkins.
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Last modified: May 25, 2011