Searched for guidance on this and could not find anything specific enough. Would a farm that raises/slaughters/sells livestock and vegetables be eligible for a Phase 2 CTR exemption? I know that the sale of farming equipment is prohibited. This business does not sell equipment; just their livestock and food that is grown. I think it's okay to exempt them. Wanted the opinion of the folks on here before doing so.

Must be a heck of a farm to generate that much cash, but they would be eligible for a Phase II exemption with the proper due diligence.

Thanks Rick! I didn't tell the whole story. They not only have the farm, but a farm to table restaurant and other ventures. I felt good about everything else. Wasn't so sure about the sale of cattle.