Help for new farmers
According to the Ohio Department of Agriculture, agriculture and food make up the Buckeye State’s largest industry. But the next generation might need a little help.
Fortunately, the Department of Agriculture is providing it, thanks to the Beginning Farmer Tax Credit, signed into law last year.
“The Beginning Farmer Tax Credit will help keep costs down for new producers and encourage others to help them,” said ODA Interim Director Tracy Intihar. “This incentive ensures that our state will continue to provide for local communities, the country, and even the world.”
There are a number of requirements for receiving the credit — applicants must provide the majority of daily physical labor and management of the farm, have a net worth below $800,000 and participate in a financial management program, to name just a few.
Technology is changing the world of work. But for those who provide the food we eat or the crops that become our textiles and medicines, there are some aspects of the job that have not changed for generations. That means it can be hard to get established in this industry. Lawmakers are to be commended for establishing a tax credit that could make the difference for some.
New farmers should not hesitate to apply.