GardenShare

GardenShare

Monday, August 29, 2016

NEW YORK CONSIDERING TAX CREDIT FOR FOOD DONATIONS


Last year New York farmers give 12 million of pounds of apples, squash, corn, and other agricultural products to the state's food banks. Now, legislation awaiting action by Governor Cuomo would offer farmers a tax break of up to $5,000 a year for donations to the regional food banks that serve hundreds of food pantries, soup kitchens, and homeless shelters around the state. The federal government already offers a tax credit to farmers who donate goods to food banks. Several states have created their own tax credits, including California, Oregon and Colorado.

Source: Fox Business News, 8/20/16, Tax Credits