What is Chapter 61A land Massachusetts?

What is Chapter 61A land Massachusetts?

INTRODUCTION. The agricultural and horticultural land classification program under Massachusetts General Laws Chapter 61A is designed to encourage the preservation of the Commonwealth’s valuable farmland and promote active agricultural and horticultural land use.

What is Chapter 61B in Massachusetts?

61B is the recreational land tax law. The purpose of Ch. 61B is to reduce the assessed value of land based on its use for open space or recreation. Assessed values under this law are reduced by 75%.

What is the meaning of an Agricultural Preservation Restriction?

The Agricultural Preservation Restriction (APR) Program is a voluntary program which is intended to offer a non-development alternative to farmers and other owners of “prime” and “state important” agricultural land who are faced with a decision regarding future use of their farms.

What is Chapter 61 of the US Internal Revenue Code?

Section 61 of the Internal Revenue Code (IRC 61, 26 U.S.C. § 61) defines “gross income,” the starting point for determining which items of income are taxable for federal income tax purposes in the United States.

How many acres do you need to be considered a farm in Massachusetts?

Primary Requirements: Farm must be at least five (5) acres in size. Land has to have been actively devoted to agriculture for the two (2) immediately preceding tax years.

What best describes IRC section 61?

Section 61(a) of the Internal Revenue Code defines gross income as income from whatever source derived, including (but not limited to) “compensation for services, including fees, commissions, fringe benefits, and similar items.” I.R.C.

Which of the following taxpayers will be required to file a 2020 federal income tax return?

If you meet the single status tax filing requirements and you’re under 65, you must file if your federal gross income was $12,400 or more. If you’re 65 or older, you must file if your federal gross income was $14,050 or more.

What is the largest farm in Massachusetts?

One of the largest beef farms in Massachusetts, Lilac Hedge Farm, is a 350-acre livestock farm in Holden. Farm owner Ryan MacKay says farming runs in his family. His grandfather was a dairy farmer in town, and that’s where he got the name for his farm.

Did Massachusetts have good farming land?

Open farmland is an important feature of the Massachusetts landscape. Hay farming is the most common type of farming, and it holds the greatest amount of farmland with 104,304 acres, about 21 percent of the Commonwealth’s farmland.

What produce is Massachusetts known for?

Massachusetts’ most valuable crops include greenhouse and nursery commodities, making up over one third of the state’s total agricultural production, followed by cranberries, sweet corn and apples. The most valuable livestock products of the Bay State are dairy products.