“Generally speaking, maybe 25 percent of the tobacco contract holders in our area have taken their buyout in a lump sum. It varies a little by county, but not much.”
“Just for an example, out of a total of 4,260 tobacco contracts in Montgomery County, 3,360 contracts are left that haven't been converted over to lump-sum transactions.”
“It's amazing to me, the similarities between all of these counties as far as the percentage of contracts that are left. To me, it shows that there is still a lot of uncertainty among our producers about the tax liabilities they face and cash flow concerns.”
