2011 Agricultural Linked Deposit Program Application deadline is 5 - tos ohio-2025

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It was signed into law in 2022 and became effective for the 2023 tax year. Asset owners who participate in the program receive an income tax credit equal to 3.99% of the sale price of the land, livestock, machinery, buildings or other agricultural assets they sell.
The Agricultural Linked-Deposit program (Ag-LINK) is sponsored by State Treasurer Josh Mandel. In an effort to help Ohio farmers offset the high costs of operating funds, Ag-LINK provides an interest rate reduction on loans or lines of credit up to $150,000.
Generally speaking, there is no minimum acreage for farm tax exemption. There may, however, be specific acreage minimums required to be considered for certain land classifications such as a greenbelt property.
If your business is making sales to charitable organizations organized for similar purposes, they are most likely exempt from tax. Sales of services are generally exempt from tax unless Ohio specifically identifies the services as taxable.
Who is eligible for the Homestead Exemption program? Those eligible must be 65 years of age or older or be permanently or totally disabled, meet annual state set income requirements, and own the home where they live as of January 1st or the year in which they apply.
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Agricultural assets include land, livestock, facilities, buildings, and machinery used in farming. In order for land to qualify as an agricultural asset, it must total at least 10 acres or produce an average annual income of at least $2,500 from farming.

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