While the research and development credit has been around for years the rules previously did not allow a majority of agricultural activities to take advantage of it. The 2016 PATH Act changed this. Research activities that qualify for the credit include costs incurred to improve existing products or costs to develop new products. It should […]
Minnesota Minimum Wage Rate Change
The minimum wages rates will change starting January 1, 2018 to $9.65 an hour for large employers and $7.87 an hour for small employers. For more information visit http://www.dli.mn.gov/LS/MinWage.asp
New Minnesota Tax Credits for Farmers
Minnesota has recently enacted two new credits for farmers, the Beginning Farmer Incentive Credit and the Beginning Farmer Management Credit. The Beginning Farmer Incentive Credit offers a non-refundable credit to taxpayers who rent or sell their agricultural assets to beginning farmers. The credit is available starting in tax year 2018. The amount of the credit […]