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.
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
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.
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.