Illinois Department of Agriculture announces tax credit for
Agritourism
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[November 02, 2022]
The Illinois Department of Agriculture (IDOA)
announced today the Agritourism Liability Insurance Tax Credit
program. This entitles entities or individuals who operate
agritourism businesses in Illinois during 2022 and 2023 to apply for
a tax credit equal to 100% of the liability insurance premiums paid
by that individual or entity during the taxable year or $1,000,
whichever is less.
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“As we continue to build back our
state’s tourism industry in the wake of the COVID-19 pandemic, this
tax credit program will provide our agritourism businesses with the
aid they need to sustain operations,” said Governor JB Pritzker.
“From spooky hayrides and corn mazes this Halloween season to
educational exhibits and guided tours, it is our longstanding
agricultural tradition that attracts visitors from around the nation
and world. Thanks to the leadership and hard work of the IDOA, our
agribusiness partners will have the support they need to show more
and more people what makes Illinois, Illinois.”
“Agritourism provides Illinoisans and visitors with unique
experiences while connecting the public with hands-on agricultural
experiences,” said IDOA Director Jerry Costello. “We want to thank
the Illinois Department of Revenue for assisting agribusinesses in
the state of Illinois.”
“Illinois Farm Bureau and Illinois Specialty Growers Association
hope this new program will alleviate some of the burden of high
liability insurance costs for agritourism businesses,” said Raghela
Scavuzzo Illinois Farm Bureau Associate Director of Food Systems
Development. “We are confident this credit will incentivize them to
continue doing business and will stimulate new agribusinesses in the
state.”
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"Agritourism operation" means an individual or entity that carries out
agricultural activities on agricultural property and allows members of the
general public, for recreational, entertainment, or educational purposes, to
view or enjoy those activities. "Agricultural property" means property that is
used in whole or in part for production agriculture.
"Agritourism activities" include, but are not limited to, the following:
historic, cultural, and on-site educational programs; guided and self-guided
tours, including school tours; animal exhibitions or petting zoos; agricultural
crop mazes, such as corn or flower mazes; harvest-your-own or U-pick operations;
horseback or pony rides; and hayrides, carriage rides, or sleigh rides.
The deadline to apply for the 2022 tax year is February 28, 2023.
Visit
https://www2.illinois.gov/sites/agr/
Assistance/Pages/Agritourism-Tax-Credit-Place.aspx or
illinoisagritourism credit.com for more information or to apply for the tax
credit. For more information or questions, please contact
AGR.AgritourismTax@illinois.gov.
[Illinois Office of Communication and
Information] |