In a previous Tax Talks blog article, we talked about energy credits. An energy credit not discussed is the Production Tax Credit (PTC) under Internal Revenue Code (IRC) section 45Z. This credit incentivizes the domestic production of sustainable transportation fuels, such as those that may be generated by an on-farm biomass digester, offering a per gallon tax credit for qualified fuels produced by the taxpayer and sold to an unrelated person.
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Tax Talks
New York Farm Employer Overtime Credit – Advance Application Opens July 1
In December 2023, we shared to important Tax Talks blog articles on the New York Employer Overtime Credit. The time to apply for an advance of the credit is fast approaching with NYS Ag and Markets opening the application on July 1, 2024.
July 2, 2024
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Tax Talks
Tax rates are on the rise, are you prepared?
In November 2022, Massachusetts voters approved an amendment to the Massachusetts Constitution to impose an additional 4% surtax on the portion of a taxpayer’s taxable income that exceeds $1 million. Shortly after, seven other states introduced their own legislation targeting high-income earners including Connecticut and New York. Here are the details to help your tax planning.
October 31, 2023
Public Policy
Financial Assistance for Those Who Have Experienced Discrimination from the USDA Farm Service Agency
The USDA and its partner vendors have announced the opening of the application period for Section 22007 of the Inflation Reduction Act (IRA), which directs USDA to provide financial assistance to farmers, ranchers, and forest landowners who experienced discrimination in USDA farm lending programs prior to January 2021.
October 24, 2023
Business Tips and Tools
GenerationNext Seminars Help Prepare Tomorrow’s Northeast Ag Leaders
GenerationNext is a series of seminars, hosted by Farm Credit East, designed to advance the management skills and business knowledge of the next generation of ag business managers.
October 17, 2023
Business Tips and Tools
Keep Your Online Information Safe: 3 Security Habits You Can Start Today!
October is Cybersecurity Awareness Month. Farm Credit East’s security team is working to educate customers and staff about security best practices to use in their work and personal lives. There are a few things you can implement today to keep you and your information safe.
October 12, 2023
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