Iowa Secretary of Agriculture Mike Naig announced Tuesday the Iowa Farm Act, a legislative plan to support Iowa farmers and rural communities. Key Provisions of the Iowa Farm Act…it Expands retired farmer rental income tax exemption to partnerships, S corporations, trusts and estates…Eliminates grain excise tax for cooperatives and grain handlers…Exempts honeybee purchases from sales tax. It also exempts above-ground storage tanks under 91,000 gallons from property tax.
