You May Qualify for a R&D Tax Credit
Farmers who experiment may qualify for a tax credit to offset income taxes
The federal Research and Development (R&D) tax credit isn’t just for tech companies—it can also benefit farmers who innovate in their operations. If you’re a farmer experimenting with new crops, techniques, or equipment, you may be eligible for this tax incentive.
Who Qualifies? Any farmer who incurs expenses to develop or improve products, processes, or techniques may qualify. The key is that your activities must involve a process of experimentation to resolve technological uncertainty, not just routine farming.
What Activities Count? Examples of qualifying activities include:
