This law authorizes Beginning Farmer and Farm Asset Owner tax credits in Wisconsin. The Beginning Farmer credit is is equal to the amount paid by the beginning farmer to enroll in a financial management program. The maximum credit is $500 and the credit is available on a one-time basis. The Farm Asset Owner credit is equal to 15 percent of the lease amount received by the established farmer. The established farmer may only claim the credit for the first three years of any lease of the agricultural assets to a beginning farmer.
No credit may be claimed for taxable years beginning after December 31, 2013.