This statute, enacted in March 2019, establishes a beginning farmer tax credit (known as the “farmer small business tax credit”) in Kentucky. Farmers can receive income tax credits for up to $25,000 per calendar year (up to $100,000 total per individual) when they sell their agricultural land and assets to a beginning farmer.
Kentucky Beginning Farmer Tax Credit Statute
Statutes and Ordinances
Level of Government
Beginning Farmer Tax Credit, Beginning Farmers, Farmland Access
Ky. Rev. Stat. § 154.60-040 (2019)