The window is open for Minnesota farmers to apply for the beginning farmer tax credit. Matthew McDevitt with the Minnesota Department of Agriculture describes who is eligible.
“Beginning farmers that reside in the state of Minnesota, been farming for less than ten years and have a net worth of less than 836-thousand.”
Credits are given on a first-come-first-serve basis and apply to transactions involving the sale or lease of land equipment, machinery, and livestock. Applications must be submitted by October 1st. More information is available at mda.state.mn.us.