by Lisa Dawsey Smith
Whitewater Banner Staff
whitewaterbanner@gmail.com
Announced by Governor Evers on May 20, the Wisconsin Farm Support program is 50 million dollars in direct farm support from federal coronavirus aid for farmers struggling with the economic fallout of the pandemic. An estimated 26,500 farms may qualify for payments of $1000 to $3500. Here are the key takeaways farmers need to know as taken from the Department of Revenue website:
Who can apply for the Wisconsin Farm Support Program?
- An individual, estate, or trust, may apply for the Wisconsin Farm Support Program if all the following apply:
- Gross income from farming for tax year 2019 is at least $35,000 but not more than $5,000,000. (Note: This does not include farm income passed-through from a partnership, tax-option (S) corporation, estate or trust.)
- The primary business activity based on the North American Industry Classification System (NAICS) code begins with digits 111 or 112. Search for your NAICS code at: naics.com/search/
- The value of real and tangible personal property owned or rented and used by the business in Wisconsin is at least 75% of the value of real and tangible personal property owned or rented and used by the business for all operations.
- The farming business is operating at the time the application is submitted in 2020.
- The farming business suffered economic damages in 2020 from the COVID-19 pandemic that exceed the amount of relief available for the business. All qualified farms will receive no less than $1,000 and no more than $3,500 in direct relief payments.
- A corporation or partnership may apply for the Wisconsin Farm Support Program if all the following apply:
- Gross income from farming for tax year 2019 is at least $35,000 but not more than $5,000,000. (Note: This does not include farm income passed-through from a partnership, tax-option (S) corporation, estate or trust.)
- The primary business activity based on the North American Industry Classification System (NAICS) code begins with digits 111 or 112. Search for your NAICS code at: naics.com/search/
- The value of real and tangible personal property owned or rented and used by the business in Wisconsin is at least 75% of the value of real and tangible personal property owned or rented and used by the business for all operations.
- The amount of labor costs paid to individuals for services performed in Wisconsin is at least 75% of all labor costs paid to individuals. Labor costs include amounts paid to a professional employer organization or a professional employer group.
- The farming business is operating at the time the application is submitted in 2020.
- The farming business suffered economic damages in 2020 from the COVID-19 pandemic that exceed the amount of relief available for the business. All qualified farms will receive no less than $1,000 and no more than $3,500 in direct relief payments.
When can I apply?
Starting at 7:00 a.m. on June 15 and ending at 11:59 p.m. on June 29.
Find additional details and frequently asked questions here