When Minnesota state lawmakers reconvene in St. Paul after the Easter holiday, the Minnesota Farm Bureau Federation is going to push for some changes to the Beginning Farmer Tax Credit program.
MFBF Director of public policy Loren Dauer tells KFGO, “You know, we see around about $7 million of requests for that program, and it’s currently capped at 4 million. We’d like to see that removed. And we’re also pushing to include individuals who farm as an LLC so that they’re not being prevented from having access to these resources.”
Farmers use Limited Liability Companies (LLCs) for personal liability protection and business flexibility.
“As you know, farmers do utilize LLCs to kind of protect their assets and they shouldn’t be penalized for doing so. And we want to make sure they can get resources, just like everyone else,” according to Dauer.
Details on the Beginning Farmer Tax Credit program can be found at the Minnesota Department of Agriculture’s website. https://www.mda.state.mn.us/bftc
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