News Irrigation Tax Credits Available For 2019

Irrigation Tax Credits Available For 2019

Irrigation Tax Credits Available For 2019
November 14, 2019 |

Producers who performed agriculture irrigation upgrades in the 2019 calendar year are encouraged to apply for an irrigation tax credit. Questionnaires are due Jan. 31 and are found at agi.alabama.gov/s/irrigation.

The Alabama Department of Agriculture & Industries will collect questionnaire responses, while the Alabama Department of Revenue will issue the irrigation tax credit to eligible applicants.

Tax credits are available thanks to legislation signed in 2018.

Eligible 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 credit was implemented to incentivize irrigation infrastructure improvements in Alabama.

Compared to neighboring state Georgia, which has over 1.5 million acres of irrigated land, Alabama has just 150,000 acres of irrigated farmland.

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