Form AG-03361 "Minnesota Beginning Farmer Tax Credit Application" - Minnesota

What Is Form AG-03361?

This is a legal form that was released by the Minnesota Department of Agriculture - a government authority operating within Minnesota. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on December 22, 2021;
  • The latest edition provided by the Minnesota Department of Agriculture;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form AG-03361 by clicking the link below or browse more documents and templates provided by the Minnesota Department of Agriculture.

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Download Form AG-03361 "Minnesota Beginning Farmer Tax Credit Application" - Minnesota

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625 Robert Street North, Saint Paul, MN 55155-2538
www.mda.state.mn.us
Rural Finance Authority Phone: 651-201-6004
APPLICATION INSTRUCTIONS
2022 Minnesota Beginning Farmer Tax Credit – Beginning Farmer Certification
Deadline to apply for the tax credit is October 3, 2022
Application Part A – Beginning Farmer Tax Credit
(Note: Applicant name must match that of the owner/lessor on the lease)
Complete basic demographic section and answer the 10 qualifying questions beneath.
The beginning farmer must be a resident of Minnesota. Resident information:
Residency Fact Sheet
The beginning farmer must have entered farming in no more than the last 10 years. If the current year is the 10th year, the
beginning farmer does qualify for this program. The 10 years is based off of filing of farm income (schedule F) on tax returns.
The land being farmed must be within the borders of the State of Minnesota.
The beginning farmer must be planning on providing the majority of the day-to-day physical labor on the farm.
The beginning farmer’s net worth must be under $862,000.
The farmer must have previous farming experience.
The beginning farmer must attend an RFA certified Farm Financial Management course. You must expect that farming will
become (if it has not been already) profitable and a significant source of income.
The transaction taking place must not involve a family member by blood or marriage. “Family member” means a family member
within the meaning of the Internal Revenue Service Code, section 267(c)(4). This includes parents, grandparents, brothers,
sisters, spouses, children, and grandchildren. Legal Adoption shall be considered in full effect.
Application Part B – Past Experience
(Required by all applicants. Continue on a separate page if necessary)
Complete the Past Experience part of the application with a listing of job duties, the amount of time those duties were
performed and the approximate dates.
Complete the Education and Training section of the application with the schools or organizations you have attended or were a
part of. Detail any specific courses if applicable as well as length of time you have attended and approximate dates.
Application Part C – Beginning Farmer Information
(Note: Applicant name must match the name on the lease)
You must complete the cash flow grid if you need additional years in which to show a profit, you can attach a separate sheet.
The beginning farmer must enroll in a certified Farm Financial Management course. Complete the application with the required
course, out of pocket cost (outside of any grants, etc.) and instructor information. A listing of courses are available on MDA’s
website: www.mda.state.mn.us/fbmprograms. These are not necessarily an all-inclusive list. If there are programs that may
qualify, contact the RFA for potential certification of a program.
The program only allows for 3 years’ worth of reimbursement. If you have already been reimbursed through this program for 3
years, you are still required to take a course, but cannot be reimbursed for it.
Assuming you qualify for reimbursement, you must include a tuition statement before your educational tax credit will be
processed. Please provide what you expect to pay out-of-pocket for the entire 2021 calendar year.
You must include a tuition statement before your educational tax credit will be processed.
You may request a waiver in regards to the educational requirement if you have completed a four-year degree in an agricultural
program or related field, have reasonable agricultural job related experience, or have a certification as an Adult Farm
Management Instructor. Please provide information/rationale in the Education/Training Section of the application or on a
separate page.
In accordance with the Americans with Disabilities Act, this information is available in alternative forms of communication upon request
AG-03361
by calling 651-201-6000. TTY users can call the Minnesota Relay Service at 711. The MDA is an equal opportunity employer and provider.
12/22/21
PAGE 1 of 5
625 Robert Street North, Saint Paul, MN 55155-2538
www.mda.state.mn.us
Rural Finance Authority Phone: 651-201-6004
APPLICATION INSTRUCTIONS
2022 Minnesota Beginning Farmer Tax Credit – Beginning Farmer Certification
Deadline to apply for the tax credit is October 3, 2022
Application Part A – Beginning Farmer Tax Credit
(Note: Applicant name must match that of the owner/lessor on the lease)
Complete basic demographic section and answer the 10 qualifying questions beneath.
The beginning farmer must be a resident of Minnesota. Resident information:
Residency Fact Sheet
The beginning farmer must have entered farming in no more than the last 10 years. If the current year is the 10th year, the
beginning farmer does qualify for this program. The 10 years is based off of filing of farm income (schedule F) on tax returns.
The land being farmed must be within the borders of the State of Minnesota.
The beginning farmer must be planning on providing the majority of the day-to-day physical labor on the farm.
The beginning farmer’s net worth must be under $862,000.
The farmer must have previous farming experience.
The beginning farmer must attend an RFA certified Farm Financial Management course. You must expect that farming will
become (if it has not been already) profitable and a significant source of income.
The transaction taking place must not involve a family member by blood or marriage. “Family member” means a family member
within the meaning of the Internal Revenue Service Code, section 267(c)(4). This includes parents, grandparents, brothers,
sisters, spouses, children, and grandchildren. Legal Adoption shall be considered in full effect.
Application Part B – Past Experience
(Required by all applicants. Continue on a separate page if necessary)
Complete the Past Experience part of the application with a listing of job duties, the amount of time those duties were
performed and the approximate dates.
Complete the Education and Training section of the application with the schools or organizations you have attended or were a
part of. Detail any specific courses if applicable as well as length of time you have attended and approximate dates.
Application Part C – Beginning Farmer Information
(Note: Applicant name must match the name on the lease)
You must complete the cash flow grid if you need additional years in which to show a profit, you can attach a separate sheet.
The beginning farmer must enroll in a certified Farm Financial Management course. Complete the application with the required
course, out of pocket cost (outside of any grants, etc.) and instructor information. A listing of courses are available on MDA’s
website: www.mda.state.mn.us/fbmprograms. These are not necessarily an all-inclusive list. If there are programs that may
qualify, contact the RFA for potential certification of a program.
The program only allows for 3 years’ worth of reimbursement. If you have already been reimbursed through this program for 3
years, you are still required to take a course, but cannot be reimbursed for it.
Assuming you qualify for reimbursement, you must include a tuition statement before your educational tax credit will be
processed. Please provide what you expect to pay out-of-pocket for the entire 2021 calendar year.
You must include a tuition statement before your educational tax credit will be processed.
You may request a waiver in regards to the educational requirement if you have completed a four-year degree in an agricultural
program or related field, have reasonable agricultural job related experience, or have a certification as an Adult Farm
Management Instructor. Please provide information/rationale in the Education/Training Section of the application or on a
separate page.
In accordance with the Americans with Disabilities Act, this information is available in alternative forms of communication upon request
AG-03361
by calling 651-201-6000. TTY users can call the Minnesota Relay Service at 711. The MDA is an equal opportunity employer and provider.
12/22/21
PAGE 1 of 5
Application Part D – Agricultural Assets Information
(Does not need to be completed if only applying for an educational reimbursement credit)
Complete the section with the name of the person or entity that you will be purchasing/renting agricultural assets from.
Describe the type of operation you will be running.
Detail the land information as required if this is a land transaction.
Provide a signed copy of the lease with all terms if leasing.
Provide a signed copy of the Settlement Statement if purchasing land (this can be done later if sale has not
taken place).
Provide a signed bill of sale if purchasing equipment or livestock.
Detail the asset information as required if this transaction involves anything other than land.
t “Agricultural Assets” means agricultural land, livestock, facilities, buildings and machinery used for farming in
Minnesota.
t You must notify the RFA of any future termination of a rental or share rent agreement.
Sign and date application and submit either by email or by printing out and e-mailing or mailing to:
Mda.bftc@state.mn.us
Rural Finance Authority
Minnesota Department of Agriculture
625 Robert St. N.
St. Paul, MN 55155
In accordance with the Americans with Disabilities Act, this information is available in alternative forms of communication upon request
AG-03361
by calling 651-201-6000. TTY users can call the Minnesota Relay Service at 711. The MDA is an equal opportunity employer and provider.
12/22/21
PAGE 2 of 5
625 Robert Street North, Saint Paul, MN 55155-2538
www.mda.state.mn.us
Rural Finance Authority Phone: 651-201-6004
APPLICATION
2022 Minnesota Beginning Farmer Tax Credit
The data on this form will be used to certify your status as a beginning farmer as defined by Minnesota Statute 41B.0391 subdivision
1. You are not legally required to provide all of the information on this form, but the Department of Agriculture will only certify
beginning farmers who provide all of the requested information. The information provided on this form will be shared with the
Minnesota department of Revenue to validate your tax credit.
New Application
Recertification of a Previous Year’s Multi-year Lease Application
Educational Credit Only Application
A Beginning Farmer Information (Note: Applicant name must match that of the purchaser/renter on the lease)
Name:
Spouse:
Address:
City:
State:
Zip:
Phone #:
Email:
Age at Time of Application (Optional):
County:
Do you meet the following requirements? Please check (Yes) or (No) Boxes.
I am a Minnesota Resident.
YES..
NO..
(An individual whose home is in Minnesota and who spends, in total, more than six months of the taxable year in this state.)
I have entered farming within the last 10 years.
YES..
NO..
I will farm land located within Minnesota.
YES..
NO..
I will provide the majority of the daily physical labor and management.
YES..
NO..
My net worth is less than $862,000.
YES..
NO..
I have farming experience
YES..
NO..
I will attend a Farm Financial Management course for every year in which the tax credit is being requested.
YES..
NO..
I expect my farming enterprise to be profitable and to be a significant source of income.
YES..
NO..
The owner/renter of the agricultural asset is not a family member of myself or my spouse.
“Family member” means a family member within the meaning of the Internal Revenue Service Code, section 267(c)(4). This includes
YES..
NO..
parents, grandparents, brothers, sisters, spouses, children, and grandchildren. Legal Adoption shall be considered in full effect.
B Past Experience (Required by all applicants. Continue on a separate page if necessary)
EXPERIENCE: List all farm/livestock experience, related hobbies, affiliation with clubs/organizations, growing up on a farm, etc.
Experience
Job Duties
Length of Time
Date
In accordance with the Americans with Disabilities Act, this information is available in alternative forms of communication upon request
AG-03361
by calling 651-201-6000. TTY users can call the Minnesota Relay Service at 711. The MDA is an equal opportunity employer and provider.
12/22/21
PAGE 3 of 5
EDUCATION/TRAINING: List schools, workshops, and course attended (include farm financial training)
School/Organization
Course Description
Length of Course
Date
C Beginning Farmer Information (Note: Applicant name must match the name on the lease)
Provide a Cash Flow:
A cash flow with a positive net outcome includes all farm and off-farm income and expenses, including any rented
ground, facilities, livestock, equipment, or other assets, and family living expenses of the beginning farmer, spouse, and
dependent(s).
Estimated Cash Flows
2022
2023
2024
Farming Income
$
$
$
Farming Expenses
$
$
$
Net
$
$
$
I have signed up for an approved Farm Financial Management course. (The cost of course will be the out-of-pocket cost of the
course, outside of any grants, etc.) You will not be able to be reimbursed for any course if you have been reimbursed by this
program for 3 years before this year. The program does still require that you take a course if a waiver is not requested/granted
even if you are not being reimbursed.
Name of Course(s):
Out of Pocket
Date:
$
Location:
Cost of Courses
Instructor’s Name:
Phone #:
Instructor’s Email Address:
I have been reimbursed for 3 years and do not qualify for a reimbursement
I am requesting a waiver of the educational requirement per instructions on page 1
(provide information/rationale in the above Education/Training Section of the application or on a separate page).
D Agricultural Assets Information (Do not complete section D if you are only applying for an education reimbursement credit)
Name of all owner(s)/landlord of the agricultural assets:
Describe the type of farming operation you will be running:
In accordance with the Americans with Disabilities Act, this information is available in alternative forms of communication upon request
AG-03361
by calling 651-201-6000. TTY users can call the Minnesota Relay Service at 711. The MDA is an equal opportunity employer and provider.
12/22/21
PAGE 4 of 5
If land, legal description of the land you will purchase/lease under the Beginning farmer Tax Credit
Section/Sub-Section
County
# of Acres
Section
Township
Range Dollar Amount
(eg. S 1/2-NW 1.4)
Description of the Agricultural Asset you are purchasing/leasing: (complete applicable fields)
County
# of Assets
Make/Model
Dollar Amount
The individual purchasing/rental agreement must sign this statement. Documentation may be required for authorization purposes.
I certify that the above information and any supplemental information is correct and true to the best of my knowledge. Furthermore,
I will adhere to the Beginning Farmer Tax Credit Act and Regulations.
Signature / Date:
Deadline to Apply: October 3 of the year for which the tax credit is sought.
Applicants are highly encouraged to submit applications early in the year.
If any information on this application changes, the applicant is required to contact the RFA with the changes.
For any questions, contact:
Rural Finance Authority
Minnesota Department of Agriculture
625 Robert Street North, St. Paul, MN 55155
Phone 651-201-6004
Mda.bftc@state.mn.us
In accordance with the Americans with Disabilities Act, this information is available in alternative forms of communication upon request
AG-03361
by calling 651-201-6000. TTY users can call the Minnesota Relay Service at 711. The MDA is an equal opportunity employer and provider.
12/22/21
PAGE 5 of 5
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