Agriculture in Texas 

Texas, known for its steak, longhorns and in the Netherlands for Boer Olke, has a lot to offer when it comes to agricultural businesses. Since the '80's a lot of Dutch farmers has established themselves in Texas to build their farms.

A few facts about Agriculture in Texas:

·         Texas leads the nation in cattle, cotton, hay, sheep, goats and mohair production.

·         Texas leads the nation in number of farms and ranches, with 248,800 farms and ranches covering 130.2 million acres.

·         Texas has more women and minority farm operations than any other state in the nation.

·         Texas also leads the nation in value of farm real estate.

·         Rural lands, including privately owned forest, total 142 million acres, 84% of the state's total land area.

·         12% of Texas' population resides in rural areas.

·         1 of every 7 working Texans (14%) is in an agriculture-related job.

·         98.6% of Texas farms and ranches are family farms, partnerships or family-held corporations.

·         The average age of Texas farmers and ranchers is 58 years.

·         The economic impact of the food and fiber sector totals more than $100 billion annually.

·         Agricultural cash receipts, including timber, average $20 billion annually.

Top 10 commodities in terms of cash receipts in 2012:

·         Cattle, $10.5 billion

·         Cotton, $2.2 billion

·         Milk, $1.8 billion

·         Broilers, $1.7 billion

·         Greenhouse & nursery, $1.3 billion

·         Corn, $1.2 billion

·         Grain Sorghum, $594 million

·         Wheat, $538 million

·         Forestry, $520 million

·         Vegetables, $439 million

·         Eggs, $439 million

 

·         Agricultural exports to foreign countries totaled $6.5 billion in 2012.

·         Texas ranks # 6 overall in value of agricultural exports. 

 

Texas' national rank for selected commodity exports:

 

           1 - Cotton & cottonseed, $1.6 billion

           1 - Beef, $855 million  

           1 - Hides & skins, $431 million       

           2 - Seeds for planting, $244 million  

           4 - Tree nuts, $66 million  

           4 - Rice, $119 million     

           6 - Broilers, $323 million       

           6 - Milk and milk products, $248 million
           9 - Wheat, $286 million   
          10 - Feeds & fodders, $172 million     
          10 - Grain products, $171 million
          11 - Fresh fruits, $54 million      
          13 - Corn, $157 million
          13 - Sugar, $27 million
          15 - Fresh vegetables, $39 million

 

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Posted by Mariella Priem June 30, 2017

FAQ:W-8BEN-E  

 

W-8BEN-E Form

The W-8BEN-E form is a common form that needs to be filed by foreign entities who generate income in the US. Foreign entities are subject to U.S. tax at a 30% rate (the foreign-person withholding rate) on income they receive from U.S. sources. In most cases the clients of your company are asking you to fill out a W-8BEN-E form, since the client is the payer of the withholding income and may rely on a properly completed Form W-8BEN-E to treat a payment associated with the Form W-8BEN-E as a payment to a foreign person who beneficially owns the amounts paid. If applicable, the withholding agent may rely on the Form W-8BEN-E to apply a reduced rate of, or exemption from, withholding. Provide Form W-8BEN-E to your client before income is paid or credited to you.

If you receive certain types of income in the US, you must provide Form W-8BEN-E to claim a reduced rate of, or exemption from, withholding as a resident of a foreign country with which the United States has an income tax treaty that is eligible for treaty benefits. The US has an income tax treaty with the Netherlands. Completing this form prevents you from paying taxes twice, in the United States and the Netherlands.

Failure to provide a Form W-8BEN-E when requested may lead to withholding at a 30% rate (foreign-person withholding rate) to the IRS.

You’ll find more information on the official website of the IRS:

https://www.irs.gov/instructions/iw8bene/ch01.html

And on the website of PWC:

https://www.pwc.nl/nl/fatca/assets/documents/newsflash-july14-tax-insights-w-8ben-e_instructions.pdf

For an explanation in Dutch on how to fill in the W-8BEN0E form, check the website of ING. https://www.ing.nl/media/ING_Checklist_W8BENE_tcm162-115335.pdf

Posted by Mariella Priem June 30, 2017

Remco Zeeuw 

Remco F. Zeeuw, Economic Minister, Royal Netherlands Embassy, Washington DC

Remco Zeeuw (1966) started working as Economic Minister at the Royal Netherlands Embassy in Washington, DC in August 2013. In this capacity he is responsible for bilateral trade and investment promotion, trade policy, and World Bank relations. Previously, he held several positions at the Netherlands Ministry of Economic Affairs, most recently as deputy director European Affairs. He was Head of Delegation for the Netherlands and vice-Chairman of the European Commission’s Economic Policy Committee (2010-2014). Previously, Remco worked amongst others for the European Commission (2006-2010) and the Netherlands Ministry of Finance (1996-2000). Remco Zeeuw studied econometrics at the University of Amsterdam. He is married and has four children.

On trade between the Netherlands and the United States, and with Texas in particular, Remco states the following. The US-Dutch trade and investment relation is solid. The Netherlands is the number one destination of American foreign investments and The Netherlands is a fixture in the top five of largest foreign investors in the US. We are very proud of the trust that over 3000 American companies have put in our economy and political system by investing in The Netherlands. We are convinced that The Netherlands is the best place to set up shop in Europe and that there are many opportunities for Texan companies to do business in the Netherlands. If needed, we stand ready to support them.

 

On this side of the pond, Dutch companies are very happy with the pro-business attitude in Texas at the State, regional and country level. We work with our Texan partners to help Dutch companies in Texas to connect, compete, grow and create new jobs!

 

As a result the economic ties between Texas and The Netherlands 85.000 jobs are created in Texas. I am hopeful that we can create even more jobs in Texas. After all, Texas and The Netherlands have a partnership that works.

 

Posted by Mariella Priem June 29, 2017

GM is bringing new jobs to Texas 

Since January 6, 1954 the general motors Arlington Assembly plant has been building world-class vehicles in Texas. A few days ago, GM announced to build new supplier facilities near their existing GM plant, resulting in 850 new jobs coming to Arlington.

ARLINGTON, TEXAS - Despite the blazing heat, a small crowd gathered Friday for the groundbreaking for a new General Motors facility in Arlington.

Among the crowd was Republican Sen. Ted Cruz who was immediately surrounded by a gaggle of local media before taking the stage.  

“My number one priority in the Senate is jobs, jobs, jobs, and that’s for a very simple reason: The number one priority for Texans all across our great state is jobs, jobs, jobs,” he said. “And we’re here celebrating 850 new jobs.”      

GM’s new supplier park will produce and assemble vehicle interiors for their lineup of SUV’s coming off the line across the road.

GM expects the new facility to house 1,250 employees – including 850 new jobs coming to Arlington. According to company officials, 600 of the new jobs are replacing those sent overseas.

“That is a major accomplishment, and we are grateful,” said Cruz. “General Motors is an iconic business. General Motors is a business that helped build America. And General Motors has been an important part of the Texas economy for over 6 decades.”

The new jobs are in addition to the 7,000 jobs and $1 billion of investments nationwide that GM announced earlier this year.

The state-of-the-art suppliers park is scheduled to open next summer, bringing with it millions of dollars in potential revenue for the City of Arlington, said Mayor Jeff Williams.

“It allows us to provide high-quality services, police and fire, the library, the parks, our streets,” Williams said. “What a great day to be in Arlington.”

Since the Arlington plant first opened in 1954, it’s produced 10 million cars, trucks and SUVs, company officials said.

Building supplier facilities near existing GM plants is the new status quo for the car-maker. Over the last four years, GM said it’s saved $1 billion by having suppliers closer to their plants.

“This is a well-known drill,” said Steve Kiefer, General Motors senior vice president of global purchasing and supply chain. “As we say in our industry, every billion matters.”

Posted by Mariella Priem June 28, 2017