September 10, 2018
Agricultural operations can apply for a higher income tax credit for irrigation equipment, fuel conservation and reservoir costs, thanks to 2018 state legislation.
Eligible Alabama taxpayers may claim one credit for qualifying equipment purchased and installed during tax years 2012 through 2017, one tax credit for 2018-2022 and one credit for tax year 2023 or beyond.
The Alabama Farmers Federation’s David Cole said Alabama irrigation has room to grow, especially in comparison to neighboring states.
“Georgia and Mississippi have over 1.5 million acres of irrigated land. In comparison, Alabama has approximately 150,000 acres of irrigated farmland,” said Cole, the Federation’s State Legislative Programs Director for the House. “We hope these incentives encourage our farmers to invest in irrigation infrastructure. If Alabama grew to 1 million acres of irrigated farmland, it would be equivalent to the economic impact of two auto manufacturers.”
To learn more, contact the Alabama Department of Agriculture & Industries at email@example.com or visit agi.alabama.gov/irrigation.