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Tax relief measures to help Minnesota farmers

Tax relief sought by Minnesota farmers continues to be debated by legislators.

Representative Jeanne Poppe of Austin, chair of the House Ag Committee, says Section 179 conformity remains on the table.

“The 199A might be a little bit too much (however), and not be something that could be done at this point. But if we fully conform on Section 179, that at least is helping for the depreciation.”

Current Minnesota law caps Section 179 expensing at $25,000 dollars.  Ag groups like Minnesota Farm Bureau are asking lawmakers to raise the cap to the federal level of $200,000.

Poppe tells Brownfield property taxes are also being looked at.

“How do we reduce the cost when you have school referendums, bonding requests, and those are going through to increase the percentage that is bought down for farmers. That would be another boost that can help them right away.”

She says the legislature recognizes the financial troubles in agriculture and is working to provide solutions.