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Panel advances bill to allow single-member LLCs access to beginning farmer tax credit; department seeks narrower language
Summary
The committee voted to send House File 1292 to the tax committee. The bill would let beginning farmers who operate as limited liability companies be eligible for Minnesota’s beginning farmer tax credit; the Department of Agriculture asked for a drafting change to clarify single-member LLC eligibility.
Representative Hewitt presented House File 1292, a proposal to expand eligibility for Minnesota’s beginning farmer tax credit to include beginning farmers who operate through limited liability companies. The committee voted to refer the bill to the tax committee.
Hunter Peterson of the Minnesota Farm Bureau testified in support and said ag credit…
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