Agricultural Tax Exemption
Agricultural tax exemptions refer to a set of tax breaks that are offered to farmers and other agricultural businesses to help offset some of the costs of operating their farms. These exemptions can include reductions or exemptions from property taxes on land used for farming, sales tax exemptions on equipment and supplies used in farming, and income tax exemptions for agricultural income. The specific exemptions available can vary by state, but they are generally intended to help support the agricultural industry and promote farming as a viable business. The goal of these exemptions is to assist farmers in their income-generating business so that they can continue to grow food and contribute to the economy.