Overview
The Beginning Farmer Tax Credit provides tax credits to owners of agricultural assets who rent or sell agricultural assets to beginning farmers. The Tax Credit is equal to 5% of the lesser of the sale price or the fair market value of the agricultural asset, up to a maximum of $32,000, or 10% of the gross rental income in each of the first, second, and third years of a rental agreement, up to a maximum of $7,000 per year.
For more information, review the Program Guidelines or call the Department of Community and Economic Development’s Customer Service Center at 1-800-379-7448. Tax questions may be directed to the Department of Revenue at 717-772-3896 or ra-rvtaxcredits@pa.gov.