Beginning Farmer/Rancher Eligibility Requirements:
- Is a Nebraska resident, 18 years of age or older
- Farmed or ranched for less than 10 of the past 15 years
- Net worth is no more than $750,000 (adjusted Oct. 1 for inflation/deflation)
- Will provide the majority of the daily physical labor and management of the farm or ranch
- Plans to farm or ranch full time
- Has farming or ranching experience or education.
- Has participated in an approved financial management course
- 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 §77-5211(7).