Articles tagged under: taxes

Tax Planning Series: Prep for the Meeting

Published December 19, 2018

As farmers prepare for tax season, AgCentric Farm Business Management Instructor Ron Dvergsten says the first step for farmers to contact their tax preparer. "Do an estimate to see where you are tax-wise." In addition, come prepared for the meeting.…

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Year-End Tax Planning Tips

Published December 17, 2018

As 2018 comes to a close, farmers and ranchers are gathering financials for tax planning purposes. NDSU Extension farm economist Ron Haugen says it’s best to start with year-to-date income and expenses, and estimate them for the remainder of the…

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Tax Season Reminders for Farmers

Published December 5, 2018

As 2018 comes to a close, farmers and ranchers are gathering financials. As a result of new tax laws, there are several changes for the upcoming year. Renee Fink, AgCountry Farm Credit Services Vice President of Tax, says the most…

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Seeking the Return of the Biodiesel Tax Credit

Published June 27, 2018

A coalition of biofuel organizations, trucker groups and petroleum companies is asking for a permanent tax incentive for biodiesel. This $1 per gallon tax credit has been off and on in recent years. Most recently, this tax incentive expired at…

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MN Senator Expresses Caution on Tax Credit

Published May 16, 2018

Minnesota Senate Agriculture, Rural Development and Housing Finance Committee Chairman Torrey Westrom says lawmakers are still working to include the buffer tax credit in the tax bill. “We’re hopeful, but right now it doesn’t look good for the buffer tax…

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Conference Committee Works on MN Tax Bill

Published May 14, 2018

Members of the conference committee have finalized a tax bill agreement This legislation conforms the Minnesota tax code with the new federal tax law. It includes the first tax rate reduction in nearly 20 years. The bill increases the Section…

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Buffer Tax Credit: Dayton Response

Published May 11, 2018

Minnesota Governor Mark Dayton has sent on open letter to state farm leaders, clarifying his position on the buffer tax credit. Dayton supports the use of general funds to pay for this tax credit, but said he would support any…

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Ag Groups Seek Support for Buffer Tax Credit

Published May 10, 2018

Fifteen Minnesota agriculture organizations have sent a joint letter to Governor Mark Dayton, seeking his support for a tax credit for land taken out of production for the state buffer law. Minnesota Corn Growers Association President Kirby Hettver says it…

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Working Group May Have Role in School Levies and Property Taxes

Published May 1, 2018

The Minnesota House has passed legislation to bring the state tax code in alignment with the recent changes in the federal tax laws. Minnesota Farm Bureau Federation Public Policy Director Amber Glaeser says the House bill includes the creation of…

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Omnibus Tax Bill Passes MN House

Published May 1, 2018

The Minnesota House of Representatives has passed the omnibus tax bill. This bill aligns the state tax code to address the changes past at the federal level. For farmers, this bill conforms to the federal 179 expensing allowance, allowing individual…

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