The Soybean Promotion, Research, and Consumer Information Act established the national soybean checkoff program in 1990. The Department of Agriculture established the United Soybean Board, a farmer-led organization, to administer the program on a national level. Many soybean growing states also have a Qualified State Soybean Board (QSSB) charged with collecting and administering the checkoff on a state level. In Illinois, the Illinois Soybean Board (ISB) serves as the states QSSB.
The soybean checkoff is assessed at the rate of one-half of 1 percent (.005) of the net market price of soybeans sold by the producer to the first purchaser. Checkoff assessments collected by Illinois first purchasers must be remitted to the Illinois Soybean Board by the last day of the first month following the end of the quarterly sales period, as illustrated in the chart below.