|Oct. 1 is deadline for landowner clients to take advantage of tax credits for 2015|
Landowner clients willing to lease to, or custom hire, beginning farmers can take advantage of two tax credit programs offered by the Iowa Agricultural Development Division (IADD). However, they have to hurry; the deadline for applying is Oct. 1.
The tax credit is seven percent for cash-rent leases and 17 percent for crop-share leases. The credits apply for leasing land, equipment and/or breeding livestock.
The tax credit is also seven percent for contracting with a beginning farmer to provide custom labor. The contract can be for the production of crops or livestock.
More details about the beginning farmer program, as well as two loan programs offered by IADD, can be found on the IADD website. Click on the links in the left panel for the program(s) of interest.