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Taxes #1 issue for Minnesota Corn this Legislative Session

Taxes are the number one issue for Minnesota Corn Growers this legislative session.

MCGA president Brian Thalmann of Plato says the Association continues to support a $50 dollar per-acre tax credit for land put into the state buffer program.

“The challenge last year was the source of funding, so we’ll trust (lawmakers) will come up with a workable solution to get that completed.”

He tells Brownfield Minnesota Corn will also be stressing the need for tax conformity on Section 179.

“Which addresses capital equipment expensing and bonus depreciation. At the federal level, the expensing deduction was raised to $1 million dollars last year. Minnesota is still at $25,000.”

Thalmann says conforming with the federal code would provide significant tax relief for Minnesota farmers and help spur investment in equipment and other improvements.

Research investment and transportation infrastructure are other areas the Corn Growers Association would like to see addressed in the 2019 Minnesota Legislature.