State Specific Beginning Farmer Programs

Oct 25, 2023 | Uncategorized

Most folks are familiar with the FSA Beginning Farmer program, but I want to point out that many states have state-specific programs as well.

Here’s an example I came across this past week in Minnesota:

Minnesota has an incentive to sell or rent land & other ag assets to beginning farmers.

The MN Beginning Farmer Tax Credit is:

  • 8-12% of land sale price (max $50K)
  • 5% of other asset sale price (max $32K)
  • 10% rental income for 3 yrs (max $7K/yr)
  • 15% share crop value for 3 yrs (max $10K/yr)

A “beginning farmer” is someone:

  • main operator
  • farming < 10 yrs
  • net worth < $800K
  • enrolled in financial management course
  • not directly related to owner/seller (except farmland)

I’ve no experience with this, just wanted to share this program. Sounds like a good idea, although bureaucracy tends to get in the way of good ideas…

Again, this is just an example for MN, but many states have other programs to help young, beginning farmers & ranchers.

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