MDA’s Beginning Farmers Tax Break is Still Available
The Minnesota Department of Agriculture (MDA) has a program through their Rural Finance Authority to help beginning farmers. It is actually a Minnesota tax break for existing farmers that sell or lease their land, equipment or livestock to young beginning farmers. Applicants must be a Minnesota resident who wishes to start farming or has been farming for less than 10 years, and have a net worth of less than $862,000.
Applicants must be able to provide a positive cash flow, be enrolled in a financial management program and not be related "by blood or marriage to the person from whom he or she is buying or renting assets." Here are the three levels of credits that are available from the MDA news release on the Beginning Farmers Tax Credit:
Nasty Facts about the Most Disgusting Insect: Spider Crickets
WARNING: These facts about spider crickets may make your skin crawl.