Eligibility
Yes, asset owners are eligible for the tax credit if they are selling their farm with a 1031 Exchange.
Yes, asset owners are eligible for the tax credit if they are selling their farm with a 1031 Exchange.
No. According to the state law for this program, an eligible asset owner is, “an individual, trust, or pass-through entity that is the owner in fee of agricultural land or has legal title to any other agricultural land.” A C-Corporation is not a “pass-through” entity as described in the law.
No. According to the state law for this program, an eligible asset owner is, “an individual, trust, or pass-through entity that is the owner in fee of agricultural land or has legal title to any other agricultural land.” A C-Corporation is not a “pass-through” entity as described in the law.