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December 2012 Agriculture & Natural Resources Industry Report

Agriculture remains a prime economic engine in Mississippi, representing approximately 24% of the state's revenue (or over $7 billion) and providing approximately 29% of its jobs. Although agriculture is risky, subject to weather events and pest infestations, it remains the most necessary of vocations: of the 7 billion people in the world today, approximately a billion are malnourished. read more...

Readers Comments

We were privileged to participate in this roundtable discussion and hope that you will benefit from the summary printed in this publication.

Beth Howell Hansen, Chief Executive Officer
Mississippi Association of REALTORS

Economic Indicators

August 2014 personal income increased 0.3 percent. The personal saving rate as a percentage of DPI was 5.4 percent in August.    Sep. 29, 2014 More»

The second quarter of 2014 real gross domestic product increased at an annual rate of 4.6 percent. In the first quarter, real GDP decreased 2.1 percent.    Sep. 26, 2014 More»

August 2014 new orders for manufactured durable goods decreased 18.2 percent, to $245.4 billion.Overall shipments decreased 1.5 percent.    Sep. 25, 2014 More»

August 2014 sales of new single family houses were 504,000 at a seasonally adjusted annual rate, up 18.0 percent from July's revised rate.    Sep. 24, 2014 More»

August 2014 building permits were at a seasonally adjusted annual rate (SAAR) of 998,000, down 5.6 percent from the revised July rate.    Sep. 18, 2014 More»

In the second quarter of 2014 the U.S. current account deficit decreased to $98.5 billion, or 2.4 percent of GDP in the first quarter.    Sep. 17, 2014 More»

July 2014 manufacturers' and trade inventories were at a seasonally adjusted annual rate of $1,750.1 billion, up 0.4% from June 2014.              Sep. 12, 2014 More»

July 2014 retail and food services sales were $444.4 billion, 0.6% higher than June 2014.    Sep. 12, 2014 More»

July 2014 wholesale inventories and sales were up 0.1% at $533.8 billion and 0.7% at $458.6 billion, from June 2014 respectively.    Sep. 10, 2014 More»

ADP reported that 204,000 private sector jobs and 78,000 small business jobs were added in August. Economist were expecting 220,000 additional private sector jobs.    Sep. 4, 2014 More»

July 2014 exports was $198.0 billion, $1.8 billion more than in June. Imports was $238.6 billion. Goods and services deficit was $40.5 billion, slightly lower than in June.    Sep. 4, 2014 More»

July 2014 new orders for manufactured goods was $558.3 billion, a 10.5% increase. Unfilled orders and inventories rose 5.4% ($1,158.2) and 0.1% ($653.8), respectively.    Sep. 3, 2014 More»

Tax Corners

Tax Tips

Based on the statute of limitations, records need to be kept for three years after filing returns. However, if you file a fraudulent return or don't file a return (when you're required to do so), there's no limit. If you unreport your income by more than 25%, limitations period and the required record retention is 6 years. If you file a claim for a loss from worthless securities, the limitations period is 7 years. Keep records relating to your cost basis in property until the limitations period expires after you dispose of the property. read more...

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