Oregon Donated Crops Tax Credit has expanded!
You may now donate crops to a gleaning cooperative, food bank, community garden or other charitable organization engaged in the free distribution of food.
Eligible crops include, but aren't limited to, bedding plants that produce food, orchard stock intended for the production of food and livestock that may be processed into food for human consumption. The donor or the recipient may harvest crops. Crops may be donated from farm stands or markets.
For more information on how to donate and how to claim the credit, contact Oregon Food Bank, your local food bank or your local gleaning group.
How much is the credit?
The credit is 10 percent of the value of the crop donated. Compute the value at the wholesale market price at the time of donation.
How do I determine the wholesale market price?
The wholesale market price is
- The amount paid to the grower by the last previous cash buyer of the particular crop or
- If there is no previous cash buyer, a market price based upon the market price of the nearest regional wholesale buyer or regional u-pick market price.
Example:
5,000 pounds of potatoes @ $.10 lb.
5,000 x .10 = $500 (market value)
10% x $500 = $50 (credit allowed)
The credit cannot exceed your Oregon tax liability.
Additional information
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