Premier Cooperative

INCOME TAX BENEFIT

December 15, 2017

Premier Passes Through Income Tax Benefit

December 15, 2017

To our Members:

Federal tax law provides for a deduction under IRC Section 199 called the Domestic Production Activities Deduction, also known as DPAD. The law allows cooperatives like Premier to pass through all or part of its deduction to its patrons.

In its continuing effort to add value to its members, Premier’s Board of Directors has approved the pass through of the unused portion of the company’s DPAD. A written notice of allocation was mailed to each patron that qualifies for the deduction on December 15, 2017. Details of the of the calculation are included in the notice. The deduction is available for the tax year in which it is received by the patron.

The pass through will be reported to the IRS in Box 6 of the 2017 form 1099-PATR issued to patrons in January, 2018.

Premier does not offer tax advice. Patrons should consult their tax advisor regarding the deduction and how it applies to their specific situation for federal and state income tax purposes.

Questions regarding the notice or the allocation calculation may be directed the Champaign office at 217-355-1983.

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