Tax Credit Rewards Entrepreneurship

As you’re growing your farming operation or looking at forging into new markets, a little-known tax incentive could be just what you need to help finance your expansion. The credit is designed to reward producers for trying new things that could not only stimulate their business but also spur wider economic development in the community. Some projects that might qualify for the Research and Experimentation Tax Credit, or R&D tax credit, include:

  • Developing all natural or organic crops or produce

  • Developing new or automated systems along with operational processes

  • Evaluating new irrigation methods

  • Testing new seed varieties or cultivation methods

  • Evaluating new breeds or species of livestock

For example, if testing new seed varieties, not only would the new material qualify but..... read more at Farm Journal Media

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