Asset Owner Eligibility Requirements:

  • An asset owner must be an individual(s) or a trustee, a partnership, corporation, limited liability company, or other business entity having an ownership interest in an agricultural asset located within the state of Nebraska, who is eligible to receive a Nebraska tax credit.
  • Must rent to a beginning farmer/rancher who meets the eligibility requirements.
  • Must be willing to enter into a minimum of a three-year lease with the eligible beginning farmer/rancher.
  • Close relatives are eligible to receive a tax credit if the parties attend a training session on succession planning and the rental asset is included in a written succession plan that meets the requirements set forth by the Beginning Farmer Tax Credit Act ยง77-5211(5).
  • Agricultural assets include the following examples:
    • Land
    • Crops
    • Cattle
    • Farm equipment & machinery
    • Grain storage
    • Irrigation equipment
    • Livestock facilities