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Ag Bill Includes Crop-Share Tax Cuts

July 27, 2023 6:52AM CDT
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Ag Bill Includes Crop-Share Tax Cuts
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(Missouri Net) Missouri is rolling out the welcome mat for its future farmers.

Under a bill becoming law at the end of August, farmers who sell their land to a beginning farmer under a crop-share agreement would see an income tax deduction. Crop-share agreements define how a landowner, and an operator will share the crop as compensation for land and labor contributions.

Wasola Republican Senator Karla Eslinger says there are specifications for a beginning farmer.

Other aspects of the legislation include creating a trust fund to develop a statewide plan for business along Missouri’s waterways, and improvements to the state’s ports and waterways system.

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