There are many tax advantages and special deductions available to qualifying farmers. Examples in New York State alone include the Farm Workforce Retention Credit and the Farmer's School Property Tax Credit. There are many advantages on both the state and federal levels. In order to qualify for these credits, one must be considered an eligible farmer. This article will explain exactly what it means to be considered a farm employer in New York State.
What is a farm employer?
For purposes of the farm workforce retention credit, a farm employer is a taxpayer subject to tax under Article 9-A or Article 22 that:
- is a corporation (including a New York S corporation), a sole proprietorship, a limited liability partnership (LLC), or a partnership
- is also an eligible farmer.