WI Farmland Preservation Tax Credits
Eligible landowners may claim farmland preservation tax credits. The amount of the tax credit depends upon how a landowner participates in the program.
A landowner may be eligible to claim a farmland preservation tax credit through a farmland preservation zoning ordinance.
Once a landowner receives a tax credit, they must comply with conservation compliance standards.
The following requirements must be met to claim the farmland preservation tax credit:
1. The landowner must have been the owner of the farmland for the year in which the credit is claimed of lands located in a certified farmland preservation zoning district, enrolled in an effective farmland preservation agreement or both. The landowner need not be the farm operator and may rent the land to a farmer.
2. The landowner must have been a resident of Wisconsin for the entire taxable year.
3. The landowner may not have claimed homestead credit or veterans and surviving spouses property tax credit for that year.
4. The farm must meet applicable state soil and water conservation standards.
5. The land produced $6,000 in gross farm revenue in the preceding year or $18,000 in gross farm revenue during the preceding three years.
Most landowners should claim the farmland preservation tax credit using schedule FC-A.
Business, Economic Development, Education & Schools, Health & Mental Health
USDT New Markets Tax Credit Program
U.S. Department of the Treasury
The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries.