The purpose of this analysis was to provide a basis for judging the effect of a universal negative income tax program on farm business and financial management decisions. Of concern here were the effects on level and mix of farm production, on changes in asset/debt relationships, and on sources and purposes of farm loans. Theoretical expectations were reported in this Journal (Meyer and Saupe, Bawden 1970 and Bawden 1971) and are not repeated here.