Beginning Farmer Tax Credit Applicants:

Due to the partial government shutdown and the closure of FSA offices, we are accepting BFTC applications without the current FSA 156 form until FSA offices reopen.

• All other application requirements must be submitted with the application
• Once FSA offices reopen, applicants will have 2 weeks to send in their 156 forms  

Beginning Farmer Tax Credit

The Iowa legislature made some changes to the BFTC program, starting in 2018:

• The allocation for Beginning Farmer Tax Credits is being reduced from $12 million to $6 million. 
• There are currently more than $4 million in tax credits approved to carry over into 2019. 
• We anticipate having approximately $2 million in tax credits to allocate in 2019.  
• Other changes to the tax credit program for 2018 include a reduction in tax credits from 7% to 5% for cash rent leases and from 17% to 15% on crop share leases.