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Agricultural Assessment Process in New York

  • 1.  Agricultural Assessment Process in New York

    Bronze Most Valuable Member
    Posted 05-13-2019 14:10
    ​​Is there someone I can speak with about the requirements of the above process. Specifically, I have a client that purchased an existing farm that is already deemed qualified and from what I have research, they do not have to do anything as it pertains to the change in ownership until its time to renew the application filing in the next year (I know I must file Form RP-305 and not the renewal form since there was a change in ownership).

    I just want to make sure I am not missing anything.

    Also, are there any other benefits that he could receive as a farmer, both from New York or the IRS. I have read the NY Agricultural Landowners Guide.

    This client is tax work only but I plan on taking CPE in farm accounting and operations so I have sufficient enough understanding to accept this type of engagement.

    Any assistance is appreciated.

    Vincent J. Preto , CPA
    Wagner & Zwerman LLP
    Melville, NY
    631-777-1000 x 340