Montana § 80-12-211 Income Tax Deduction For Land Sale To Beginning Farmers

Montana Statutes

§ 80-12-211 — Income Tax Deduction For Land Sale To Beginning Farmers

Montana·Title 80 AGRICULTURE·Ch. 12 MONTANA AGRICULTURAL LOAN AUTHORITY ACT·Part 2 Loans

80-12-211 . Income tax deduction for land sale to beginning farmers. A landowner who sells land consisting of 80 acres or more to a beginning farmer at 9% or less interest on a long-term contract is entitled to a reduction in the landowner's taxable income in an amount equal to 100% of any income or capital gain, or both, realized and otherwise subject to state income taxes from the sale, up to a maximum of $50,000, if the transaction is approved by the authority for this purpose.

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80-12-211 . Income tax deduction for land sale to beginning farmers. A landowner who sells land consisting of 80 acres or more to a beginning farmer at 9% or less interest on a long-term contract is entitled to a reduction in the landowner's taxable income in an amount equal to 100% of any income or capital gain, or both, realized and otherwise subject to state income taxes from the sale, up to a maximum of $50,000, if the transaction is approved by the authority for this purpose.

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