Tax Planning Strategies for Grocery Cooperatives

This session will highlight important tax considerations for grocery cooperatives, including patronage planning, patronage and nonpatronage income, vendor rebates, capital expenditures, and state considerations. Attendees will gain a practical understanding of how these areas can influence tax liability, cash flow, cooperative equity, and value delivered to members.

Presenter and Moderator Bios

Presenter: Rebecca Thoune, CPA, Signing Director, CliftonLarsonAllen LLP (CLA)

Rebecca Thoune has an extensive background providing tax planning and compliance for privately held companies, serving cooperatives and the agribusiness industry. She works with clients on federal and state strategic tax planning, equity planning and management, maximizing cooperative and patron benefits, business structure consulting, and provides representation before the IRS and other state taxing authorities. Rebecca has 27 years of tax experience in public accounting and has held various tax leadership roles throughout her career. Rebecca has spoken to various local and national organizations on technical tax topics such as the principles of cooperative taxation, tax planning and reform, equity management, and various state tax matters. Rebecca serves as the cooperative national tax director for CliftonLarsonAllen LLP.

Moderator: Wayne Sine, CPA, MBA, Education Director, National Society of Accountants for Cooperatives

After retiring as Tax Director of a regional supply cooperative on the East Coast, Wayne Sine was asked to serve as Education Director for NSAC. As an active and long-term member of NSAC, Wayne previously served as Chair of NSAC’s Tax Committee, President of the Atlantic Chapter, and was a recipient of NSAC’s Silver Bowl Award. In addition to his work with NSAC, Wayne has also served on the Legal, Tax, and Accounting (LTA) Committee of the National Council of Farmer Cooperatives, Chaired the Tax Committees for both the Virginia Chamber of Commerce and the Virginia Manufacturers Association, served on the Tax Policy Committee of the Virginia Society of CPAs, and served as Region Vice President for Tax Executives Institute.