Apply For Beginning Farmer Tax Credit By October 1

The Minnesota Department of Agriculture’s (MDA) Rural Finance Authority reminds beginning farmers and asset owners to apply by October 1, 2019 for the tax credit for the sale or lease of land, equipment, machinery, and livestock.

 

To qualify, the applicant must be a Minnesota resident with the desire to start farming or who began farming within the past ten years, provide projected earnings statements, have a net worth less than $836,000, and enroll in, or have completed an approved financial management program. The farmer cannot be directly related to the person from whom he or she is buying or renting assets. The tax credit for the sale or lease of assets can then be applied to the Minnesota income taxes of the owner of the farm land or agricultural assets.

 

Three levels of credits are available:

The Beginning Farmer Tax Credit is available on a first-come, first-served basis.

 

Interested farmers should note that they can also apply for a separate tax credit to offset the cost of a financial management program up to a maximum of $1,500 per year – for up to three years.

 

Video: When is Sustainable Packaging Coming in the Canadian Agri Food Industry? 3 Critical Perspectives

Canada’s regulatory landscape on single-use plastics is complex but a recent ruling by the Federal Court of Appeal sided with the government’s intent to eliminate single-use plastics. What does this mean for the Canadian agri-food industry? How can companies find the right balance between regulatory compliance and implementing costly alternative solutions? What are retailers and consumers saying about sustainable packaging? This webinar features Joshua Goodman, Head of Corporate Sustainability, Sobeys; Marie-Anne Champoux-Guimond, Director of Sustainability, Keurig Dr Pepper Canada and Glenford Jameson, Canadian Food Lawyer, G.S. Jameson and Company

This 60-minute webinar brings together three industry leaders to examine the opportunities, challenges, and realities of the path forward. In this session, you will gain insights into:

•Canada’s regulatory roadmap and timeline on eliminating single-use plastics

•Current end-of-life solutions for plastics and alternative packaging solutions

•The need to have a corporate strategy that aligns with reality at the retail shelves

•How major brands and retailers are pivoting

•Supply chain considerations

•Common misconceptions