Tax Incentives for the Agriculture, Forestry & Fishing Industry

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Agriculture, forestry, and fishing businesses operate in capital-intensive industries where investments in equipment, facilities, land improvements, technology, and production infrastructure are essential to maintaining efficiency and profitability. From acquiring and upgrading specialized equipment to developing processing, storage, and operational facilities, these investments can create significant opportunities for tax savings.

KBKG helps agriculture, forestry, and fishing businesses identify and maximize tax incentives related to Research and Development (R&D) Tax Credits, Cost Segregation / Fixed Assets, IC-DISC, Predominant Use Study and Transfer Pricing.

Our experienced team works to uncover overlooked deductions and credits, accelerate depreciation, and help businesses improve cash flow while fully leveraging available federal and state tax benefits. Whether investing in new equipment, expanding operations, improving production processes, or upgrading facilities, KBKG helps agriculture, forestry, and fishing businesses maximize the tax benefits associated with their investments.

Agriculture, Forestry & Fishing Industry Tax Saving Opportunities

Cost Segregation for Buildings & Improvements

Any building acquisition or/and improvements over $1.5M should be reviewed for proper classification of the individual components for tax depreciation.

Fixed Asset Review

Evaluating a company's entire fixed asset schedule to identify assets that can be optimized for federal and state tax purposes. Taxpayers utilizing the book method of accounting for tax are not maximizing their available deductions.

Research and Development (R&D) Tax Credit

Federal credit worth approximately 7% to 10% of qualified research expenditures related to designing, developing and improving processes, formulae, and software. State R&D tax credits may also be available, allowing eligible companies to maximize their tax benefits.

Transfer Pricing

Cross-border transfer prices drive how much income tax a multinational company pays by country. Transfer pricing regulations apply to the intercompany prices of goods, services, royalties, and loans across all industries. Many companies can realize significant tax savings through transfer pricing strategies.

Predominant Use Study

These studies determine the percentage of utilities used in qualifying processes, enabling businesses to claim important sales tax exemptions and reduce operating costs.

IC-DISC

The IC-DISC is a federal tax incentive that provides significant, permanent tax savings for U.S. companies that export.

Agriculture, Forestry & Fishing Industry Tax Insights

When Should Manufacturers Update a Predominant Use Study?

Many manufacturers unknowingly pay sales tax on utilities that may qualify for exemption under state manufacturing rules. A predominant use study…

Questions to Ask Before Hiring an R&D Tax Credit Provider

Selecting an R&D tax credit provider is a risk-management decision. A research tax credit claim may ultimately be reviewed by the IRS or a state…

KBKG Tax Insight: How to Allocate Land vs. Building Values for Investment Property

Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube See If You Qualify Allocating an investment property’s purchase price between land and depreciable improvements directly affects the deductions available to the owner. Land cannot be depreciated, while buildings and qualifying site improvements may be depreciated over their applicable recovery periods. Purchase

Tax Incentives for the Agriculture, Forestry & Fishing Industry

Find out if you qualify

Agriculture, Forestry & Fishing Industry Tax Saving Opportunities