Tax Analysts publications contain news, analysis, and commentary on farm and ranch tax issues at both the state and federal level, including special property tax assessments for farm land, agricultural production tax credits, tax treatment of fuel for agricultural use, conservation tax incentives, tax treatment of farm vehicle purchases, and statutes and regulations implementing sales tax exemptions for agricultural operations.

Proposed federal legislation affecting farm and ranch taxation is provided in H.R. 4868. IRS rules regarding tax treatment of farmers' cooperative's payments is provided in LTR 201601004. Guidance regarding a state's farmland preservation tax credit is found in Publication 503 and proposed federal legislation to amend rules governing the deprecation of farm equipment is provided in S.1801. State guidance explaining the business taxes applicable to farmers and agricultural operations is found in "Kansas DOR Provides Guidance on Business Taxes for Agricultural Industries," and a state's discussion of capital gains treatment on proceeds from the sale of farmland is in "Iowa DOR Denies Taxpayer’s Capital Gains Deduction for Sale of Farmland." An Ohio administrative ruling rejecting a farmer's conservation property tax exemption can be found in "Ohio Board of Tax Appeals Finds Portions of Farm Ineligible for Property Tax Exemption."

Recurring issues and controversies in this area include tax treatment of sales of farm equipment, property tax assessments, depreciation of capital expenditures in the form of farm equipment, and the estate tax as it effects farm inheritance.

Tax Analysts consistently and promptly publishes all relevant developments regarding taxation of farmers, ranch tax, and agricultural tax issues. Sign up for a free trial and subscribe to Tax Notes Today Federal.