Recording UFA Equity Statements

When entering a UFA Equity Statement, look at each number individually to help you build your entry.  Each number on your statement is an important component of the entry.

You will create the following transaction to make the entry required for this statement if you are a sole proprietor or partnership:

You will create the following transaction to make the entry required for this statement if you are a corporation:

Your patronage allocation in excess of $100 is subject to withholding tax.  A T4A will be issued for tax purposes.

Cash payments of less than $50 after tax are used to purchase additional member share equity.  These payments will accumulate until you reach the member equity share cap of $30,000, at which point all allocations will be paid out, regardless as to the amount.

Last updated on January 20, 2020 by FCC AgExpert