Home / Knowledge / News / Textiles / Tax benefits boost alpaca industry in US
Tax benefits boost alpaca industry in US
27
Jan '11
The alpaca industry in the United States has received a boost from the tax benefits extended by the government along with the high prices for breeding stock. Animal breeders are now optimistic about the industry and they intend to improve the quality of the fibre so that they can provide good quality raw material to the commercial units in the country.

Though all industries meet the criteria for similar tax deductions, but the alpaca breeders are in a better position as they might reap more benefits in comparison to other livestock breeders as a result of the investments made by them and the sales of their products. Breeding stock alpacas, particularly the top quality ones, are sold from $4,000 upwards to several thousands of dollars in comparison to the sheep, which are generally obtained by the breeders for just few hundred dollars.

As per the 2010 annexure of the tax law, the ranchers have been permitted to write off the overall expense of purchasing their breeding alpacas within that particular year only. As the rearing of these animals generates profit, the ranchers can easily meet the expenses on animal fodder and veterinarian care from what they earn.

Alpacas, which are common in the Andes region, are popular for their high quality fibre. These animals are not killed for the purpose of meat. Until the 1980s, the alpacas were not imported to the US but today the scenario has changed. These animals are now reared throughout the nation, mostly in Ohio and Washington.

Alpaca breeders have accepted that the financial incentives extended by the government have played a major role in the steady growth of this industry. The alpaca industry has several small sized units which produce products from the alpaca fibre such as socks, hats and scarves. These units engage knitters for handmade products. Establishment of commercial mills on a large scale is likely to generate more employment opportunities.

Fibre2fashion News Desk - India


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search