Wednesday, July 21, 2010

Possible Tax Credit for Beginning Aggies

Senate Considers Beginning Farmer and Rancher Tax Credit
July 20, 2010

ROUNDUP, Mont. - Start a small farm or ranch, or open a new small business in Montana, and get a tax credit worth up to $10,000. That's what's on the table for the U.S. Senate as a "jobs bill" is being debated.

Executive director Chuck Hassebrook of the Center for Rural Affairs says spurring micro-enterprises and entrepreneurship make a lot of sense for job creation, since those kinds of small businesses are credited as being the new job incubators.

"It's for people who create their own job by starting a small business, or get started in farming and ranching. That's the way we've created a lot of opportunity in rural America for over a century."

Hassebrook says the proposal is the first one he's seen that focuses on micro-businesses for rural areas. Read More

There’s no doubt that it’s very difficult for young farmers and ranchers to get started in agriculture. I get asked quite often if I know of any programs that can help so I thought I would pass this on. While the idea has a long ways to go before reaching fruition, it’s good to hear that there are some people who still put value on small rural businesses. ~Troy

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