nc new tax laws for farms

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nc new tax laws for farms

Postby anndunning » Tue Jul 08, 2014 9:47 pm

the State of NC IRS sent us a letter this week that unless you make $10,000 a year income on your farm you will no longer be eligible for farm exemption. I anticipate that will be significant for a lot of farmers. another reason to try to buy local to help these farmers out. Are other states doing this, or have similar rules. we can have a 2 year conditional if we send in proof of our profit with average of at least $10,000 a year. :evil:
Ann Dunning
unhappy NC resident
Posts: 354
Joined: Tue Aug 18, 2009 8:32 pm
Location: Carthage nc

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