Section 422.11M. Beginning farmers — agricultural assets transfer tax credit and custom farming contract tax credit.

  The taxes imposed under this division, less the credits allowed under section 422.12, shall be reduced by the following:

  1.  An agricultural assets transfer tax credit as allowed under section 16.80.

  2.  A custom farming contract tax credit as allowed under section 16.81.

2006 Acts, ch 1161, §3, 7

; 2007 Acts, ch 161, §14, 22

; 2013 Acts, ch 125, §20, 23, 24

; 2014 Acts, ch 1080, §86, 98

For future repeal of 2013 amendment to this section effective December 31, 2017, see

2013 Acts, ch 125, §25, 28

; for repeal of division II of 2013 Acts, ch 125, see

2014 Acts, ch 1080, §121, 125

For future amendment striking subsection 2, effective January 1, 2018, see 2014 Acts, ch 1080, §118, 125

2013 amendment takes effect June 17, 2013, and applies retroactively to January 1, 2013, for tax years beginning on or after that date;

2013 Acts, ch 125, §23, 24