NORTHFIELD, Minn. — Details on how to apply for the newly launched Minnesota Beginning Farmer Tax Credit will be the focus of a Land Stewardship Project workshop on Monday, Jan. 22, from 6 p.m. to 8 p.m., at First United Church of Christ, 300 Union St., in Northfield. Dessert and coffee will be served. There is no cost for the meeting, but RSVPs are appreciated. RSVPs and questions can be directed to Land Stewardship Project organizer Karen Stettler at 507-523-3366 or firstname.lastname@example.org.
During the meeting, Ryan Roles of the Minnesota Department of Agriculture’s Rural Finance Authority will be on-hand to explain the tax credit and how to apply. The Beginning Farmer Tax Credit went into effect Jan. 1. Under this initiative, there is now a state tax credit for owners of agricultural assets — land, livestock, facilities, buildings or machinery used for farming in Minnesota — who agree to sell or rent those assets to a beginning farmer who is not a family member. There is also a tax credit available for beginning farmers who participate in a financial management program, regardless if they are buying or renting from an asset owner. The Rural Finance Authority will approve and certify tax credits on a first come first served basis. There is a total of $5 million in tax credits available through the program in 2018.
“Access to land is a barrier for many beginning farmers,” said Stettler. “The Minnesota Beginning Farmer Tax Credit is a tool that can help further the Land Stewardship Project’s goal of more farmers farming the land and contributing to vibrant rural communities.”