Beginning Veteran Farmers Benefit from Proposed Tax Credit

Jan 17, 2018

By Jordan Rasmussen

A veteran’s sense of service and work ethic draw a distinct parallel to the skills and dedication required for successful farming and ranching. However, access to the land and financial resources needed to transition from military service to farming can be a challenge.

Last week, state lawmakers introduced the Beginning Veteran Farmer Tax Credit that could provide an incentive to those veterans. The bill seeks to expand Nebraska’s existing beginning farmer tax credit program by adding a 1 percent incentive for property and landowners who rent to a qualified beginning veteran farmer.

Under current statute, a 10 percent tax credit on cash rent, or 15 percent credit on the value of a sharecrop or cow-calf share rent, is available to the property owner when they rent to a qualified beginning farmer. The proposed revision would increase the incentive to 11 percent and 16 percent if the property is rented to a qualified beginning veteran farmer.

By encouraging agricultural property owners to rent to veterans, they are more readily able to pursue farming. As farmers and landowners look to transition their operations, renting to a beginning veteran farmer is not only an investment in an individual but also an investment in rural communities and the state’s economy.

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Video: Early Fall Colors | Scenic Ontario Road Trip!

All adventures must come to an end, but not without one more journey! Join The Wandering Shepherds as we say farewell to our cozy Calabogie cottage and take the scenic road trip home to Ewetopia Farms. Our first stop was a breathtaking hydroelectric generating station, framed by cliffs, rushing water, and brilliant fall leaves that seemed to have changed overnight. From there, we meandered along winding backroads through lakes and hills, soaking in the spectacular autumn scenery. This year, the colors seemed to arrive earlier than usual—perhaps due to the summer’s drought? Whatever the reason, it was an unforgettable display of Ontario’s fall beauty. Finally, our holiday drew to a close as we pulled back into Ewetopia Farms, ready to return to the sheep and our daily vlogs. But this trip reminded us how important it is to pause, explore, and appreciate the simple beauty around us.