Depreciable agricultural property means personal property suitable for use in farming for which an income tax deduction for depreciation is allowable in computing federal income tax under the Internal Revenue Code as defined in section 422.3.
Depreciable agricultural property means personal property
Depreciable agricultural property means personal property suitable for use in farming for which an income tax deduction for depreciation is allowable in computing federal income tax under the Internal Revenue Code, including but not limited to farm machinery and trucks but not including feeder livestock, seed, feed, fertilizer and other types of inventory or supplies.
Examples of Depreciable agricultural property in a sentence
Depreciable agricultural property may be exchanged or traded for similar property, and other property such as breeding livestock may be added or substituted as collateral at the discretion of the lender without the prior approval of the authority.
More Definitions of Depreciable agricultural property
Depreciable agricultural property. - means personal property suitable for use in farming/ranching for which an income tax deduction for depreciation is allowable in computing federal income tax under the Internal Revenue Code of 1986 and which is located on agricultural land.
Depreciable agricultural property means personal property suitable for use in farming for
Depreciable agricultural property means personal property suitable for use in farming for which an income tax deduction for depreciation or cost recovery is allowable in computing federal income tax under the Internal Revenue Code and which is qualified for financing with tax-exempt bonds pursuant to section 144 of the Internal Revenue Code.
Depreciable agricultural property. - means personal property suitable for use in farming for which an income tax deduction for depreciation is allowable in computing federal income tax under the Internal Revenue Code of 1986. “Farm” - means a farming enterprise which is recognized in the community as a farm rather than a rural residence. “Farming” - means the cultivation of land for the production of agricultural crops, the raising of poultry, the production of eggs, the production of milk, the production of fruit and other horticultural crops, grazing, the production of livestock, aquaculture, hydroponics, the production of forest products, or other activities designated by the Authority’s rules.
Depreciable agricultural property. - means personal property suitable for use in farming for which an income tax deduction for depreciation is allowable in computing federal income tax under the Internal Revenue Code of 1986. “Farm” - means a farming enterprise which is recognized in the community as a farm rather than a rural residence. “Farming” - means the cultivation of land for the production of agricultural crops, the raising of poultry, the production of
Depreciable agricultural property means personal property suitable for use in farming for which an income tax deduction for depreciation is allowable in computing federal income tax under the Internal Revenue Code, including but not limited to farm machinery and trucks but not including feeder livestock, seed, feed, fertilizer and other types of in- ventory or supplies.
Depreciable agricultural property means personal property suitable for use in farming for which an income tax deduction for depreciation or cost recovery is allowable in computing federal income tax under the Internal Revenue Code and which is eligible for the beginning farmer tax credit.