Tax Break Encourages N.Y. Farmers to Donate Food
The Lempert Report: Program could save participants $10 million per year. The Lempert Report: The program could save participants $10 million per year.
January 1, 2018
New York farmers got a tax break through a new program that started on Jan. 1.
The program makes it so that food donated by New York farmers can earn them a tax credit worth 25% of the value of the donated food. Farmers are limited, however, to earn up to $5,000 for their donations—which, frankly, I think should have a much higher ceiling.
The tax credit is for certain food donations, including milk, fresh fruit, vegetables, eggs and meat produced in New York that farmers give to food banks, pantries and emergency food programs. The credit is aimed at helping farmers cover the costs of growing, harvesting and distributing the food to charitable food programs. State officials expect the program to save farmers $10 million each year.
New York farms donated more than 9 million pounds of food in 2017, according to the state Farm Bureau. The donations helped to make up over 7 million meals for New Yorkers.
New York Gov. Andrew Cuomo said, "Refunding farmers for their generous food donations not only supports the state's agricultural economy, but encourages more New Yorkers to help end hunger in our communities once and for all.”
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