The new and beginning farmer tax credit is a priority for Minnesota Senate Agriculture Committee Chair Aric Putnam. “The beginning farmer tax credit is an extremely popular program. I’m going to try to put more money into it and expand it a little bit so you can start to use it for intergenerational transfers,” said Putnam. This would also allow for family members to benefit from the beginning farmer tax credit which has not been an option to this point in Minnesota. Putnam says it is important to ease the process of transferring farm ownership.
